B&R Initiative leads new trend of globalization

The Boao Forum for Asia Annual Conference 2017 was held in southern China’s Hainan Province from March 23 to 26. The Belt and Road Initiative, as the most important of the four main topics of the annual conference, drew great attention from participants, the People's Daily reports.

Representatives recognized the huge headway the initiative has made and anticipated that the Belt and Road Forum for International Cooperation (BRF), which will be held in Beijing in May, will lead the new trend of international cooperation.

The Belt and Road Initiative adheres to the basic principle of jointly building through consultation to meet the interests of all and has brought substantial benefits to people in the countries involved. That is why the initiative is gaining greater attention and support, said Jin Liqun, president of the Asian Infrastructure Investment Bank (AIIB).

The initiative is not a narrow geographical concept but a new mode to promote international cooperation, Jin added.

Jointly building the Belt and Road Initiative is a great solution to enhance global connectivity which brings new development opportunities for the world, said Manuel Caldeira Cabral, economy minister of Portugal.

One of the major reasons for the rising anti-globalization sentiment such as trade protectionism lies in the lack of highly efficient global policy coordination and public goods. Against this backdrop, the Belt and Road Initiative provides new ideas for the future development of globalization, because it is devoted to strengthening the connectivity of policy, transportation, trade, finance and people.

The Belt and Road Initiative offers a very encouraging vision for development, and it will further promote regional connectivity and economic integration, said Ann Sim, senior minister of the State of Singapore at the ministries of Culture, Community and Youth and Trade and Industry.

Sim noted that Singapore has been engaged in cooperation with China in enhancing connectivity in aviation, logistics, information and communication technology and finance.

Sim said that Singapore is willing to participate more in building the initiative.

Stephen Groff, vice president of Asian Development Bank (ADB), said that the Belt and Road Initiative proposed by China has generated positive influences in both regional and global context. Its global influence has been increasing as more countries have joined in and a number of financial institutions including the Asian Infrastructure Investment Bank  have been established.

Asia continues to be the driving force for the world economic growth and China plays a key part, said Groff.

The BRF, which will be held in May, will explore solutions to solve problems in regional and global economy and inject new vitality into the common development of the world. It will help the Belt and Road Initiative better benefit people in countries along the routes.