China’s ‘Belt and Road’ gains traction

By Lan Shen

Substantial headway has been made in the China-led Belt and Road (B&R) Initiative since its implementation in 2013. China has reached cooperation agreements with dozens of countries along the B&R, some construction projects have started, and related financial and trade services have improved.

Progress has been made in several focus areas, including infrastructure connectivity, investment and trade facilitation, and financial cooperation. A series of cross-border projects, including railway networks, highways and ports, have started construction in 2015-16. The B&R initiative has effectively boosted trade and investment growth.

Despite progress in the past three years, B&R continues to face risks and challenges at both the country and corporate levels. Some projects in foreign countries have been suspended or postponed. To remove these obstacles, we think China needs to better align its strategy with other countries’, and dispel their concerns while ensuring mutual benefits.

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