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China’s investment to Belt and Road countries exceeds $50b: official

Updated: Mar 6,2017 2:47 PM     Xinhua

Director of the National Development and Reform Commission (NDRC) He Lifeng answers questions during a press conference on China’s economic and social development and macro-economic control for the fifth session of the 12th National People’s Congress in Beijing, capital of China, March 6, 2017. [Photo/Xinhua]

BEIJING — China has invested more than $50 billion in countries along the Belt and Road since the nation proposed the initiative in 2013, a senior economic official said on March 6.

The Belt and Road Initiative has won support from over 100 countries and international organizations, with nearly 50 cooperation agreements signed between governments, said He Lifeng, head of the National Development and Reform Commission, at a press conference on the sidelines of the annual parliamentary session.

He said progress under the initiative was “better than expected.”

The initiative was proposed by China in the hope of creating a trade and infrastructure network connecting Asia with Europe and Africa along ancient trade routes.

In the spirit of regional connectivity, China is working in aviation, power, rail, road and telecommunications projects with participating countries.

To further strengthen cooperation, China will host a high-level forum on the Belt and Road Initiative in Beijing in May.