China proposes new co-op initiative in Adriatic-Baltic-Black seas

Chinese Premier Li Keqiang speaks during the fifth economic and trade forum between China and Central and Eastern European (CEE) countries, in Suzhou, Jiangsu province, China, Nov 24, 2015. [Photo/Xinhua]

SUZHOU, Jiangsu - Chinese Premier Li Keqiang on Tuesday said China will invest in the construction and upgrade of infrastructure in port areas of the Baltic Sea, the Adriatic Sea and the Black Sea to boost cooperation and connectivity.

Li made the remarks when addressing the opening ceremony of the fifth economic and trade forum between China and Central and Eastern European (CEE) countries.

Construction of a high-speed rail link between Serbian and Hungarian capitals will begin within this year, Li said.

The train link, which will cut travel time between Belgrade and Budapest by more than half, will be finished in two years, Li added.

Li also proposed to set up a "16+1" multilateral financial firm in Central and Eastern Europe to finance major projects in the region.