Xi: China to host 2nd Belt and Road forum in 2019
By China Daily
16 May 2017

BEIJING (China Daily/ANN News Desk) - China's ambitious "Belt and Road" initiative is fully underway, says President Xi Jinping. 

Chinese President Xi Jinping said Monday that implementation of the Belt and Road Initiative is in full swing.

Xi made the remarks when meeting with reporters at the end of the two-day Belt and Road Forum for International Cooperation in Beijing that saw 100 countries participate with 28 heads of state. 

The Chinese president said a total of 68 countries and international organisations have signed Belt and Road cooperation agreements with China.

The project is named for China’s Silk Road, the ancient trade route linking China with Europe and Asia and its maritime “belt” of influence that reached its height of influenced under the Ming dynasty, according to the Financial Times

It is seen by outsiders as an attempt to offset China’s domestic slowdown by expanding its global markets. First though, it will invest an ambitious US$900 billion in global infrastructure by improving roadways, railways, pipelines and ports from Australia to Africa. 

The project is 12 times larger than the Marshal Plan, the US effort to rebuild Europe at the end of World War II, according to Bloomberg. 

At the conference, China and participants drafted a list of 270 achievements, Xi said, expressing confidence in the prospect of the Belt and Road Initiative. 

These outcomes will lend strong support to the building of the Belt and Road, and serve to boost confidence from all parties to advance cooperation, he said.

Xi also announced that China will host the second Belt and Road Forum for International Cooperation in 2019.

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