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Belt and Road to become reality
Belt and Road to become reality
By Zhang Ye
Source:Global Times
Published: 2017/3/8 23:23:41
Initiative will bear fruit for foreign companies: expert
In a year and a half, the "One Belt, One Road" (Belt and Road) initiative will be more than just a concept for foreign companies but an actual benefit, said the chairman of the China-led Silk Road Chamber of International Commerce (SRCIC) on Wednesday.
The Hong Kong-based SRCIC plans to open exposition centers in several Chinese cities to help companies in countries and regions along the Belt and Road route to reach consumers in the world's second-largest economy, its chairman Lu Jianzhong told the Global Times in an exclusive interview on the sidelines of the annual session of the 12th National Committee of Chinese People's Political Consultative Conference.
The non-profit organization: an alliance of chambers of commerce from 61 countries and regions was founded in 2015 with support from the World Chambers Federation and the China Chamber of International Commerce, according to information on SRCIC's website.
Lu depicted the exposition centers as Disneyland-like theme parks with many national pavilions serving as bridges connecting merchants along the Belt and Road route with Chinese markets as well as windows for Chinese people to observe the cultures of countries in Asia, Europe, and Africa.
"We are seeking suitable locations in China for the construction of those centers. Well-planned transport facilities will be a factor during the process," Lu said. He added that the plan is expected to realize within about 18 months and the alliance has created a $5 billion Silk Road fund to push the Belt and Road initiative.
SRCIC's plan is in line with Chinese government's determined efforts to build the Belt and Road for win-win development.
On Wednesday, Foreign Minister Wang Yi reiterated at a press conference that the "intellectual property rights of the Belt and Road initiative belong to China but the benefits will be shared by the world."
Since debuting in 2013, the initiative has drawn lots of interest within China and abroad in the potential investment opportunities.
He Lifeng: chairman of the National Development and Reform Commission, China's top economic planning agency, told at a press conference held on Monday that more than 100 countries and organizations have joined the initiative with 50 cooperation contacts signed among governments and more than 70 signed among international organizations.
China's investment in the initiative has surpassed $50 billion over the past three years, according to He.
Against that backdrop, Chinese companies made big strides in globalization last year with a $14.53 billion direct investment in economies along the Belt and Road route, data from the Ministry of Commerce showed.
The best way of promoting the Belt and Road initiative abroad is to establish industrial parks, which can help Chinese firms go out efficiently in a group mode, said Lu. "Such a cooperative mode is also welcomed by local governments because it simplifies local governance and speeds up the formation of industrial clusters."
However, doing business abroad is not easy especially in underdeveloped countries in South Asia, Southeast Asia, and Africa, according to the SRCIC chairman. He added that underdeveloped infrastructure and distinctive laws and cultures are the main roadblocks.
Political uncertainties and territorial disputes will also challenge economic cooperation this year, he said.
Indian Prime Minister Narendra Modi may not attend the Belt and Road Forum For International Cooperation, which is to be held in Beijing on May 14-15 unidentified sources Indian newspaper the Deccan Herald quoted on Monday as saying.
There have been concerns in India that the China Pakistan Economic Corridor violates India's sovereignty.
Lu said that India and China will ultimately reach a consensus because their complementary advantages offer big potential in bilateral cooperation.
http://www.globaltimes.cn/content/1036753.shtml
