Hu Kaihong:

Ladies and gentlemen, good afternoon. Welcome to this press conference. This year marks the fifth anniversary of the Belt and Road Initiative proposed by Chinese President Xi Jinping. 

Today, we are delighted to invite Mr. Ning Jizhe, vice director of the Office of the Leading Group for the Belt and Road Initiative, deputy head of the National Development and Reform Commission and head of the National Bureau of Statistics, Mr. Qian Keming, vice minister of commerce, and Mr. Zhang Jun, assistant minister of foreign affairs to brief us on the progress made under the Belt and Road Initiative over the past five years and its outlook in the future.

Now, Mr. Ning Jizhe will give you a brief introduction.

Ning Jizhe:

Thank you all. This morning, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, attended the symposium on the fifth anniversary of the Belt and Road Initiative, and delivered an important speech.

Over the past five years, the initiative has witnessed a warm welcome and active participation in countries all over the world. Much headway has been made in the construction of the Silk Road Economic Belt and 21st Century Maritime Silk Road, as the Belt and Road Initiative has developed from a proposal and vision, into concrete activities.

First, enhancing strategic mutual trust and building international consensus. The Belt and Road Initiative and the principle of seeking shared benefits through extensive consultation and joint contribution have been included into many documents of international organizations like the United Nations. So far, 103 countries and international organizations have signed 118 cooperation agreements with China under the framework of the Belt and Road Initiative. 

In 2017, the first session of the Belt and Road Forum for International Cooperation was held successfully in Beijing. State and government heads of 29 countries, as well as more than 1,600 representatives of over 140 countries and over 80 international organizations participated in the event. Of the 279 items on the forum's outcome list, 265 items, or 95 percent of the total, have been completed or have become routine works, while great efforts have been made to accelerate the implementation of the remaining items.

Second, actively implementing cooperation projects to create demonstration effects. Solid progress has been made in a batch of cooperation projects, such as the China-Pakistan Economic Corridor, China-Laos railway, China-Thailand railway, Hungarian-Serbian railway, Jakarta-Bandung high-speed railway, and Gwadar Port Free Zone. As of Aug. 26, 10,000 cargo train journeys have been made on the China-Europe railway lines. The lines connect China with 43 cities in 15 European countries. 

Third, promoting cooperation in the pursuit of win-win results and mutual development. By June 2018, the total volume of trade in goods between China and countries along the Belt and Road had surpassed US$5 trillion, and China's outward direct investment has surpassed US$70 billion. China's total investment in the economic and trade cooperation zones in countries along the Belt and Road has surpassed US$20 billion, creating more than 100,000 local jobs and bringing tax revenue worth billions of dollars to local governments. Currently, Chinese enterprises are exploring ways to work with enterprises from developed countries, including some multinational companies, in third-party markets under the framework of the Belt and Road Initiative. 

Fourth, improving service systems and enhancing financial support. China has endorsed the Guiding Principles on Financing the Development of the Belt and Road with 17 countries, greatly boosting the overseas development of Chinese financial institutions. So far, 11 Chinese banks have set up 71 first-class branches overseas. Joint financing services have been developed with several multilateral banks, such as the African Development Bank, Inter-American Development Bank, and European Bank for Reconstruction and Development. The control of legal risks has been tightened. The mechanisms and institutions to solve international commercial disputes under the framework of Belt and Road Initiative are being established. 

Fifth, intensifying cultural exchange under the principle of openness and inclusiveness. Cooperation has been actively promoted in education, technology, cultural and other fields. Special cooperation plans have been designed in education, technology, finance, energy, agriculture, inspection and quarantine, the connectivity of standards, amid others. The "Silk Road" scholarship, Chinese overseas education institutions and other programs have cultivated many technological and managerial professionals for countries along the Belt and Road. In 2017, more than 300,000 students from these countries studied in China, and more than 60,000 Chinese students studied in these countries. In 2020, it is estimated that China and countries along the Belt and Road will receive more than 85 million tourists from each other, with a total expected consumption value of about US$110 billion.

The development of the Belt and Road Initiative over the past five years has proved that the initiative conforms to the trend of the times and the direction of development, thus winning greater international recognition and more partners, with its influence extending far and wide. However, we should also notice that the global economy is faced with many uncertain and unstable factors. Great changes are taking place in the world. The Belt and Road Initiative is also faced with many risks. A handful of countries remain doubtful about the initiative. Chinese enterprises are also faced with difficulties in overseas investment and development. Therefore, we should have an objective and reasonable understanding of the achievements and problems. We should remain resolved, use development and cooperation to solve problems, improve the safeguard system and international cooperation mechanisms, promote further, deeper development of the Belt and Road Initiative in a stable manner.  

In view of the new situation, the Chinese government will continue to stick to the principle of seeking shared benefits through extensive consultation and joint contribution, stick to the rules of the market economy, and stick to international conventions to promote the high-quality development of the Belt and Road Initiative with high standards, thus to pursue win-win results through cooperation. 

First, we will enhance overseas coordination, build closer friendships with more countries, and turn the Belt and Road Initiative into an initiative for peace. 

Second, we should promote win-win development, intensify mutually beneficial cooperation, improve connectivity and industry development, and turn the Belt and Road Initiative into an initiative for prosperity. 

Third, we should play the leading role in pursuing open markets, boost the development of trade, improve trade and investment facilitation, and turn the Belt and Road Initiative into an initiative for openness.

Fourth, we should enhance the establishment of various mechanisms, explore more ways of reform, promote cooperation in high-tech sectors, and turn the Belt and Road Initiative into an initiative for innovation.

Fifth, we should improve cultural exchange, enhance friendly communication, build up soft power in the cultural sphere, and turn the Belt and Road Initiative into an initiative for higher civilization.

That's all. Thank you.