Belt and Road Initiative provides new approach for G20 to promote global cooperation

0 Comment(s)Print E-mail Xinhua, July 11, 2017
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BEIJING, July 7 (Xinhua) -- As one of two major platforms in the world, the Belt and Road Initiative proposed by China is expected to facilitate G20 summit in propelling the world economic development.

Heads of state and government are gathering on Friday and Saturday in Hamburg, Germany, to discuss improvement of global governance at the G20 summit, which focuses on economic growth, international trade and financial market regulations.

China successfully held the G20 Hangzhou Summit in 2016 and in May this year the country launched the Belt and Road Forum for International Cooperation in Beijing.

The forum injected a fresh impetus into the rebalance of globalization, and made new contributions to the joint construction of a community of shared destiny for mankind, as Chinese Foreign Minister Wang Yi put it on May 24 in Beijing.

Wang said that the G20 is the most significant platform for global economic governance, while the joint construction of the Belt and Road is the most influential initiative with the largest scale in the contemporary world.

Proposed by Chinese President Xi Jinping in 2013, the Belt and Road Initiative, comprising the Silk Road Economic Belt and the 21st Century Maritime Silk Road, aims to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond ancient trade routes.

The initiative, which embraces the spirit of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit, has gained broad support from more than 100 countries and international organizations.

Despite certain differences in the form and content, there are many similarities and connections in concepts and goals among relevant parties, Wang said.

The Belt and Road Initiative is committed to facilitating all countries to reinforce the alignment of development strategies and policy coordination, so as to form cooperation with coordinated development, which is in line with the G20's goal of promoting global macroeconomic policy coordination, the Chinese minister said.

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