The Belt and Road
"The Belt and Road" (B&R) is the abbreviation of "Silk Road Economic Belt" and "21st Century Maritime Silk Road". In September and October 2013, Chinese President Xi Jinping proposed to build a "new "Silk Road Economic Belt" and "21st Century Maritime Silk Road" cooperation initiative. Relying on the existing bilateral and multilateral mechanisms between China and relevant countries, with the help of existing and proven regional cooperation platforms, the Belt and Road Initiative aims to borrow the historical symbols of the ancient Silk Road, hold high the banner of peaceful development, and actively develop relations with countries along the route. Economic partnership to jointly build a community of interests, a community of destiny, and a community of responsibility featuring political mutual trust, economic integration, and cultural tolerance. On March 28, 2015, the National Development and Reform Commission, the Ministry of Foreign Affairs, and the Ministry of Commerce jointly issued the "Vision and Actions for Promoting the Joint Construction of the Silk Road Economic Belt and the 21st Century Maritime Silk Road." After the opening of the "Belt and Road" economic zone, the number of contracted projects exceeded 3,000. In 2015, Chinese companies made direct investments in 49 countries related to the “Belt and Road” initiative, with a year-on-year growth of 18.2%. In 2015, China undertook US$17.83 billion in service outsourcing contracts from countries related to the “Belt and Road”, and the executed value was US$12.15 billion, representing a year-on-year increase of 42.6% and 23.45% respectively. At the end of June 2016, a total of 1,881 trains were opened for China-Europe freight trains, including 502 return trips, achieving a total import and export trade volume of US$17 billion. As of November 2020, China has signed 201 cooperation documents for jointly building the “Belt and Road” with 138 countries and 31 international organizations.
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