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The Global Influence of the Belt and Road Initiative

The Silk Road Economic Belt and the 21st-century Maritime Silk Road, better known as the Belt and Road Initiative, which is a development strategy proposed by President Xi Jinping. The strategy underlines China's push to play a larger role in global affairs with a China-centered trading network. In the past three years, the focuses has been mainly on infrastructure investment, construction materials, railway and highway, automobile, real estate, power grid, and iron and steel.

In the past five years, measures and proposals put forward by China have injected vigor into the reform and optimization of global governance. China proposed establishing the Asian Infrastructure Investment Bank and the BRICS New Development Bank. Last year, the International Monetary Fund included the Chinese currency in the special drawing rights basket.

The Belt and Road Initiative works through the concerted efforts of all related countries to benefit all participants by promoting unimpeded trade, financial integration, infrastructureconnectivity and closer people-to-people exchanges. By Sept 25, more than 100 countries and international organizations had signed agreements with China to boost Belt and Road cooperation.

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