Is the result of a study by the research institute under the trade ministry which analyzed how the Belt and Road Initiatives in local economies contributed
The Belt and Road Initiative is among the main Chinese initiatives for the economic development of China and to connect China to the other economies of the neighboring countries. According to a research institute under the Ministry of Commerce, the Belt and Road initiative over the years has offered over 200,000 local jobs.
In particular, as stated in a forum on Belt and Road by Zhang Wei, vice president of the Chinese Academy of International Trade and Economic Cooperation, China has established 82 zones of economic and commercial cooperation abroad with 24 countries by the end of 2018. This international cooperation has led to the creation of over 200,000 local jobs and investments for 36.5 billion dollars.
The Belt and Road Initiative is the plan signed by President Xi Jinping to reconnect the former Silk Road nations
The Belt and Road Initiative is the plan to recreate the old Silk Road in a technological and modern format. To do this, as published by the China National Radio website, China has signed 17 free trade agreements with 25 countries and regions.
The exchange between China and the countries participating in the investment plan reached $ 1.3 trillion last year, over 27% of China’s total foreign trade.
The initiative will help participating nations reduce shipping times from 1.7 to 3.2 percent
The Chinese project promises to revolutionize Asia’s economic strength. According to a report by the World Bank, in fact, B&R will help participating nations reduce shipping times from 1.7 to 3.2 percent. Furthermore, the aggregate commercial costs of these nations will be reduced between 1.5% and 2.8%.
The countries along the economic corridors of the belt and the road will benefit the most, as their shipping times will be cut by almost 12% and their commercial costs reduced by over 10%.
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