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China announces 10-year action plan for the One Belt and One Road

The Chinese government's Leadership Group on the issue unveiled its vision and action plan for the development of the One Belt and One Road Initiative over the next 10 years.

China announces 10-year action plan for the One Belt and One Road

In the plan, it was stated that China will continue to contribute to the development of global free trade with connectivity projects in the next 10 years and will expand cooperation areas with innovation-oriented projects in the fields of digital economy, green development and health, as well as transportation and infrastructure in the new period.

In the plan, it was stated that the use of China's national currency, the yuan, will be prioritized in project investments, pointing out that the use of yuan-based financing instruments will be increased.

In the plan, which reiterates the goals expressed in the 8-point action plan announced by Chinese President Xi Jinping at the 3rd Belt and Road Forum held in the capital Beijing in October, it was emphasized that the " One Belt and One Road" will continue to be an important "international cooperation platform" and "global public asset" in the next 10 years.

The plan identified the development of policy coordination, infrastructure connectivity, unimpeded trade, financial integration, people-to-people ties and cooperation in new areas as "key areas of action" among the participating countries.

According to the report published by China's State Council on the occasion of the 10th anniversary of the "One Belt and One Road", the trade volume between China and the countries participating in the initiative increased by an average of 6.4 percent annually to 19.1 trillion dollars in 2013-2022.

During this period, two-way investments amounted to 380 billion dollars, of which 240 billion dollars was undertaken by China.

The Belt and Road Initiative was first announced during President Xi's visit to Kazakhstan in 2013. More than 150 countries and international organizations have joined the project, which was launched with the aim of revitalizing East-West trade on the historic Silk Road route in 10 years.

Infrastructure, energy, transportation, communication and other connectivity projects carried out in a geography covering 2/3 of the world's population have become the basis of China's global strategy as a rising power.


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