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China ready to boost financial cooperation with Belt and Road participants

26 May 2017

Leaders from 29 nations, including Italy, Russia and Indonesia, were in attendance. He urged Xi called for governments to pursue "greater openness and cooperation" and "reject protectionism".

"Geese can fly through wind and rain for a long time because they fly in flocks".

On the eve of the One Belt One Road (OBOR) forum, India issued a statement saying it can not "accept a project that ignores its core concerns on sovereignty and territorial integrity".

He later announced that the two-day summit reached "broad consensus" on the project and that China will host a new forum in 2019.

"President Xi Jinping also said that we should build the Belt and Road into a road for peace".

The CPEC, a cluster of road, rail and energy projects, will connect Pakistan's southern Gwadar port on the Arabian Sea and Kashgar in China's far western Xinjiang province.

Indonesia signed three agreements with China, including a loan worth US$4.48 billion from the China Development Bank for the Jakarta-Bandung high-speed rail project. "But this is not how countries interact", an editorial in Global Times said.

Hailed by Xi as a "project of the century", the plan fits into his bigger narrative that China is setting an example of globalization, filling the void left by the United States under Donald Trump's "America First" policy.

India's refusal to join China's Belt and Road Forum was "partly a show" for domestic politics and aimed at piling pressure to get Beijing's "special attention", a state-run Chinese daily said on Tuesday.

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Rogers, who has served as NSA director since 2014, also was to appear before the committee to discuss the annual budget. Coats was sworn in just days before the president made his request.

Xi's speech also drew implicit contrast between Chinese-style development objectives and those of the West, saying the initiative will not resort to "outdated geopolitical maneuvering". "Today any signals that would give hope for stability are in demand". The port is now under the management of Chinese Overseas Port Holdings Ltd.

Britain, France and Germany were represented by finance or trade officials.

The text on trade is one of the statements that were to be published after the end of the summit later Monday, along with the final communique.

Despite China's pledges of inclusiveness and a level playing field for all, there are concerns over transparency issues and the country's growing clout and its intentions.

"I think the optics worked out well for him", said Gilholm.

But other Europeans praised Xi's project.

Cooperation will will "enable increased dialogue and examination of individual infrastructure projects located in Asia, Europe and Africa", the EIB said. Europeans are not the only ones voicing concerns.

Japan's government "is keeping a close watch on" Belt and Road to see whether the initiative turns into something that "can contribute to the region's sustainable development", Chief Cabinet Secretary Yoshihide Suga told a news conference Monday.

"More importantly, although Pakistan was excluded from India's regional integration agenda, the construction of the China Pakistan Economic Corridor is expected to shore up weak links of regional integration between China, India and their neighbouring regions, especially Central, West and South Asia".

China ready to boost financial cooperation with Belt and Road participants