What Does Belt and Road Mean?
Just what is the Belt and Road Initiative
The Road and Belt Initiative is the abbreviation from the Silk Road Economic Belt along with the 21st Century Maritime Silk Road (abbreviated BRI).BRI is really a development initiative that targets connectivity and cooperation among countries. It is made up of two main components, the land-based "Silk Road Economic Belt" and oceangoing "21stcentury Maritime Silk Road".
The initiative focuses on promoting policy coordination, connectivity of infrastructure and facilities, unimpeded trade, financial integration, and closer people-to-people ties through extensive consultation, joint contribution and shared benefits, with the aim of bringing advantages to all.
The initiative covers primarily East Asia, Southeast Asia, South Asia, West Asia, Central Asia, and Eastern and Central Europe. It reflects a convergence of interests along with an increasing need for regional and global cooperation.
Aerial photo taken on March 15, 2020 shows workers planting the very first engineering pole on the construction site of your China-Laos railway project in Vientiane, Laos.
The Silk Road Economic Belt
The Silk Road Economic Belt can be a long term vision for the infrastructural economic, connectivity and development cooperation of Eurasia. It is considered the longest economic corridor in the world -- and potentially the most dynamic -- connecting the Asia-Pacific region within the East with developed European economies within the West.
The six major economic corridors usually make reference to the brand new Eurasian Land Bridge, the China-Mongolia-Russia Economic Corridor (CMREC), the China-Pakistan Economic Corridor (CPEC), the China-Central and Western Asia Economic Corridor, the China-Indochina Peninsula Economic Corridor, the Bangladesh-China-India-Myanmar Economic Corridor (BCIMEC).
The 21stcentury Maritime Silk Road
Starting with the launch of individual projects which are anticipated to help spur a wider range of cooperative activities, the 21st Century Maritime Silk Road envisions a network of interconnected markets linking the ASEAN, South Asia, West Asia, North Africa, and Europe, and a strategic partnership for the South China Sea along with the Indian and Pacific oceans.
Three "blue economic passages" are already outlined within a document published in June 2017 through the National Development and Reform Commission as well as the State Oceanic Administration.
China-India Ocean-Africa-Mediterranean Sea Blue Economic Passage
The China-Indian Ocean-Africa-Mediterranean Sea blue economic passage, will run westward via the South China Sea on the Indian Ocean, and link together with the China-Indochina Peninsula Economic Corridor, and connect to the China-Pakistan, and Bangladesh-China-India-Myanmar economic corridors.
China-Oceania-South Pacific Blue Economic Passage
The China-Oceania-South Pacific passage will run southward using the South China Sea in to the Pacific Ocean.
China-Arctic Ocean-Europe Blue Economic Passage
China-Arctic Ocean-Europe economic passage is likewise envisioned linking Europe through the Arctic Ocean.
The Ice Silk Road
In China, Russia and 2017 agreed to handle the Northern Sea Route cooperation and jointly build an "Ice Silk Road" which identifies a shortcut between the Pacific and the Atlantic oceans from the Arctic. The opening ceremony from the Second BeltandRoadForum for International Cooperation is held at the China National Convention Center in Beijing, capital of China, April 26, 2019. (Xinhua/Ju Peng)
The Belt and Road Initiative (BRI) cooperation priorities
Policy Coordination
Policy coordination is essential to effective implementation of your Road and Belt Initiative.
Connectivity of Infrastructure
While respect for every other's sovereignty and security concerns is indispensable, a closer alignment of infrastructure development planning and technical standards is named for in between the countries along the Road and Belt.
Unimpeded Trade
Removing barriers to trade with the goal of unleashing the opportunity of greater cooperation between countries involved is a major task in building the Road and Belt.
Financial Integration
Financial integration is an important support to the Belt and Road Initiative. Key measures the countries concerned might take to foster financial integration include: increasing silk road economic belt financial cooperation to ensure currency stability, develop a sound framework for investment, financing, and credit services in Asia, and expand the accessibility to public financial products and strengthening the role of your Asian Infrastructure Investment Bank, the BRICS New Development Bank, the Silk Road Fund, and sovereign wealth funds from the countries concerned in funding key projects.
Closer People-to-People Ties
People-to-people ties present an anchor for the Road and Belt Initiative. Without this sort of anchor, the strategic goal of connecting diverse cultures and various countries can be out of reach. Increased interaction and mutual understanding, greater understanding of potential advantages from expanded cooperation, and much more participation are therefore indispensable for the initiative's success. Actresses perform a folk dance in the China-Arab States Tour Operators Conference 2019 in Yinchuan, northwest China's Ningxia Hui Autonomous Region, Sept. 4, 2019. The 4-day China-Arab States Tour Operators Conference 2019 was opened here on Sept. According to Ningxia's department of culture andtourism, 4, concentrating on the near future growth of tourism along the BeltandRoadthrough promotional events, project signings andtour routes explorations. (Xinhua/Li Mangmang)
About Xinhua Silk Road
Xinhua Silk Road(en.imsilkroad.com) is definitely the Road and Belt (BRI) portal.China's silk road economic belt along with the modern day maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,as well as the integrated information services for that Road and Belt Initiative (BRI).
