11 facts you should know about the vision
5. The early harvests of the initiative are of great significance.
Zhang Fei, an associate researcher at the Ministry of Commerce's Chinese Academy of International Trade and Economic Cooperation / CHINA DAILY |
More than 100 countries and international organizations have become part of the China-led Belt and Road Initiative, and more than 30 countries along the two routes have signed cooperative agreements with China. The initiative has also won the approval of important economic blocs, such as the European Union and the Association of Southeast Asian Nations, while a number of member nations of the two blocs have signed trade and investment agreements with China. Moreover, a United Nations resolution on Afghanistan, passed three months ago, voiced vocal support for the initiative, encouraging all UN members to participate to revive the war-stricken country's economy.
Last year alone, Chinese enterprises invested at least $14.5 billion in markets that make up the network that connects Asia, Europe and Africa, and covers more than 60 countries and regions with a total population of about 4.4 billion. It has also set up 65 trade cooperation zones along the way.
These achievements would not have been possible without the support of local governments and enterprises, which is evidence that the Belt and Road projects can live up to their inclusive and reciprocal nature. Although most of the projects are related to infrastructure connectivity, meaning considerable funds are often needed to start them and making profits can take some years, participating enterprises, particularly those in the West, can grab a decent share of the profits, if they play along.