Ministry of Commerce: There is still strong resilience in the joint construction of the "Belt a

On May 20, in response to the impact of the epidemic on the joint construction of the "Belt and Road", Chinese Vice Minister of Commerce Sheng Qiuping said that although the international situation continued to undergo complex changes, the joint construction of the "Belt and Road" still showed strong resilience.

Sheng Qiuping said at a press conference held on the same day that countries along the "Belt and Road" have significantly increased their position in China's foreign trade market. From 2013 to 2021, the annual trade volume between China and countries along the “Belt and Road” will expand from US$1.04 trillion to US$1.8 trillion, an increase of 73%. China-Europe freight trains have operated more than 50,000 trains in total, reaching more than 180 cities in 23 European countries. Positive progress has been made in the construction of new land-sea corridors. The construction of the free trade zone network radiating the "Belt and Road" has been accelerated, and China has signed 7 free trade agreements with 13 countries along the route.

In terms of investment, according to official data, from 2013 to 2021, China’s direct investment in countries along the “Belt and Road” totaled US$161.3 billion, and the countries along the route invested and established 32,000 enterprises in China, with an actual cumulative investment of US$71.2 billion. By the end of 2021, Chinese enterprises have invested a total of US$43.08 billion in overseas economic and trade cooperation parks built in countries along the route, creating 346,000 local jobs.

In terms of contracted projects, from 2013 to 2021, the newly signed contracts of Chinese enterprises in the countries along the Belt and Road totaled about 1.08 trillion US dollars, and the completed turnover was 728.6 billion US dollars, covering transportation, electricity and other fields.

Sheng Qiuping said that although the global epidemic is still at a high level and the international situation continues to undergo complex changes, the joint construction of the "Belt and Road" continues to demonstrate strong resilience and vigorous vitality, injecting strong momentum into global openness and cooperation and the recovery of the world economy.

Source: China News Network