BEIJING - Global trade is undergoing rapid transformation caused by technological disruption and shifting supply chains, but China's Belt and Road Initiative can spur trade and investment provided the right fundamentals are in place, Minister for Trade and Industry Chan Chun Sing said in Beijing.
"As partners of the BRI, we must enhance it with the softer aspects of trade connectivity such as data, talent, technology and finance," he said. Countries should also leverage their comparative advantages and work together to deepen the network effect brought about by cooperation, said Mr Chan. The first is to ensure all stakeholders have joint responsibility, both in project selection and execution. Projects must meet market discipline and"steer clear of non-economic considerations to bring real benefits to the partners and the people we serve", he said.Long-term financial and environmental sustainability should also be a clear priority, as this would create more prudent and viable projects that serve not just the current but future generations, said Mr Chan.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Peru to sign MOU to join China's Belt and Road club in coming days: Chinese ambassador[LIMA] Peru will sign a memorandum of understanding to join China's Belt and Road infrastructure initiative in coming days, China's ambassador said on Wednesday, despite recent warnings from the United States about the Beijing's rise in Latin America. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
China pledges to build 'open' financing system for Belt and Road[BEIJING] Chinese officials pledged to improve funding arrangements for projects along its Belt and Road infrastructure network, in response to criticism that the initiative saddles developing countries with loans they can't repay. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Nearly 40 foreign heads of state to attend China's Belt and Road forumBEIJING - Chinese President Xi Jinping will host nearly 40 heads of state next week at the second Belt and Road forum, which is expected to produce more deals for companies and banks that want in on the latter-day Silk Road mega-project.. Read more at straitstimes.com. 'Alibaba and the 40 Thieves' is an apt theme for the BRI Forum. BeltandRoad China BRI
Source: The Straits Times - 🏆 8. / 63 Read more »
China’s belt and road may accelerate exit of manufacturing to Vietnam and India, researchers warnThe trade war with the United States coupled with the “Belt and Road Initiative” has the potential to add further pressure to China’s sluggish economy and debt pile, according to researchers, as the benefits of manufacturing in the mainland decrease. China’s manufacturing industry has already been hit
Source: YahooSG - 🏆 3. / 71 Read more »