Belt and Road Cooperation: Setting sail again after 10-year Success and Glory

Liu Xianfa*

On 18 October 2023, the third Belt and Road Forum for International Cooperation opens in Beijing with representatives from more than 140 countries and over 30 international organizations participating in this grand event. In the opening ceremony, Chinese President Xi Jinping reviewed the 10-year great journey of Belt and Road cooperation, summarized its remarkable achievements and experiences, and solemnly outlined eight major measures to support high-quality Belt and Road cooperation, kicking off a new chapter of Belt and Road cooperation in the coming golden decade.

Belt and Road cooperation is a magnificent symphony of history and reality. The Belt and Road Initiative (BRI), rooted in history, answers questions raised by reality. In the history, our ancestors created a land Silk Road connecting Asia, Europe and Africa, and opened a maritime Silk Road linking the East and the West, beginning a new phase of friendly exchanges among peoples, and shaping the Silk Road spirit characterized by peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit. In 2013, President Xi Jinping unveiled the BRI, and reinvigorated the ancient silk routes in the new era. At present, the world is undergoing major changes unseen in a century. Economic globalization is facing counter-currents, and the world economy is facing the risk of recession. About 90% of the United Nations Sustainable Development Goals are “derailed”, and nearly one-third of the goals have stagnated or even regressed. The world’s attention is focused on Beijing, expecting China to lead the way. At this critical moment, President Xi Jinping, in his keynote speech, declared that China will take eight major measures, including building a multidimensional belt and road connectivity network, supporting an open world economy, carrying out practical cooperation to support high-quality Belt and Road construction, promoting green development, advancing scientific and technological innovation, supporting people-to-people exchanges, promoting integrity-based Belt and Road cooperation and strengthening institutional building for international Belt and Road cooperation, thus injecting strong impetus into high-quality Belt and Road cooperation and world modernization.

Belt and Road cooperation is perfect synergy of concepts and practice. It excels in both ideas and real results. The BRI is in alignment with the concept of a global community of shared future, and has been welcomed by the international community both as a public good and a cooperation platform, and achieved solid results. More than 150 countries and over 30 international organizations have signed Belt and Road cooperation documents with China, establishing over 3,000 cooperation projects, driving nearly a trillion U.S. dollars in investment and recording fruitful achievements in physical, institutional and people-to-people connectivity: a large number of signature projects and “small yet smart” people-centered programs have been launched; cooperation on the Health Silk Road, Green Silk Road, Digital Silk Road and Innovation Silk Road has made steady progress; over 20 specialized multilateral cooperation platforms have been established; people-to-people exchanges and connectivity have been deepened. Important guiding principles for high-quality Belt and Road cooperation have been laid down, which include the principle of “planning together, building together, and benefiting together”, the philosophy of open, green and clean cooperation, and the goal of pursuing high-standard, people-centered and sustainable cooperation. All these flourishing achievements have composed a soul-inspiring symphony in the new era.

Belt and Road cooperation benefits both China and the world. The BRI, proposed by China, belongs to the whole world. Under the guidance of the BRI, China is opening its door even wider to the world, with its inland regions turning from “fullbacks” into “forwards”, and coastal regions scaling new heights in their opening-up. China’s market has become even more closely integrated with the global arket. The BRI has injected new impetus into the global economy, created new opportunities for global development, and improved development capacity and people’s well-being of the stakeholders. Researches show that thanks to the BRI, trade costs for the world would decline by 1.8 percent, trade is estimated to grow by between 2.8 and 9.7 percent among participating countries and between 1.7 and 6.2 percent for the world, and global real income is expected to increase by 0.7 to 2.9 percent. By 2030, BRI transport projects could help lift 7.6 million people out of extreme poverty and 32 million people out of moderate poverty. The UN Secretary-General António Guterres lauded that the BRI has brought hope and progress for billions of people in the world.

Ten years is just the prologue. Facing changes that are consequential to the world, to our times, and to history, the BRI, setting sail again from a new historical point, will definitely open a new window of opportunity for China and the world with higher-quality and higher-level development, and make people’s wish for a happy life come true at a faster pace.

*Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the Macau Special Administrative Region