Don't Mess With China's Silk Road Initiative: Venezuela

Posted May 16, 2017

China will contribute an additional 100 billion yuan ($14.49 billion) to the Silk Road Fund, Xi said in his keynote speech at the opening ceremony of the two-day Belt and Road Forum for International Cooperation in Beijing.

Chinese President Xi Jinping has pledged today 8.7-billion-USD assistance for developing countries and worldwide organizations under the Belt and Road Initiative.

"China-Pakistan Economic Corridor is a core component of your visionary initiative of the "One Belt-One Road", Sharif told Xi when they met at the Great Hall of China on Saturday, according to the Associated Press of Pakistan.

Kayonga said the belt and road initiative the vision of Africa's Agenda 2063, which aims to integrate the continent and to develop sustainable economies.

Known as the Belt and Road initiative, it was suggested by Mr Xi four years ago as a way to boost growth for China.

USA companies are ready to get involved in China's Silk Road project, an American official said on Sunday, as Washington strikes an increasingly cooperative tone with its biggest trade rival.

"It is regrettable but not a problem that India still maintains its strong opposition, even though China has repeatedly said its position on the Kashmir dispute would not change because of the China-Pakistan Economic Corridor (CPEC)", said the article written by Global Times reporter Wang Jiamei.

Xi said that 68 countries have signed the agreement of cooperation. White House adviser Matt Pottinger explained that the US supports China's efforts to promote integration and development through its Belt and Road project, Reuters revealed. "Sri Lanka is ready to seek more economic cooperation opportunities with China".

Citing its objection to CPEC, India on Saturday said "it can not accept a project that ignores its core concerns on sovereignty and territorial integrity".

They welcomed the Belt and Road Initiative to improve connectivity between Asia and Europe, noting that it was important to expanding trade and investment based on a level playing field.

Other governments welcome Chinese investment in a region that the Asian Development Bank says needs to spend $7 trillion this decade on ports, railways and other trade-related facilities to keep economies growing.

He later announced that the two-day summit reached "broad consensus" on the project and that China will host a new forum in 2019.

China has signed Belt and Road-related agreements with 68 countries and global organisations.

The inclusive tone of China's Belt and Road push stands in stark contrast to U.S. President Donald Trump's "America First" policy, which included the scrapping of the Trans-Pacific Partnership (TPP) deal, a regional trade pact involving Pacific Rim countries but excluding China.

Mr Xi told world leaders gathered in Beijing at the Belt and Road Forum - named after the overland "Silk Road Economic Belt" and a "Maritime Silk Road" - that it was "a project of the century" that would benefit people worldwide.