In the World Openness Report 5, released Friday, November 2021th, the Belt and Road Initiative was described as a “win-win” version of the economic globalization process. The World Openness Report 4, announced during the 2021th China International Import Expo, has been prepared for publication by the World Economics and Policy Institute of the Chinese Academy of Social Sciences and the Hongqiao International Forum Research Center.
In the report, it is emphasized that the joint construction of the Belt and Road not only creates a platform for deepening international trade and investment cooperation, but also creates opportunities for the coordinated development of the countries concerned.
The co-creation of the Belt and Road also created trade opportunities, facilitating and enhancing commercial processes. As a matter of fact, goods trade with countries participating in China's Belt and Road Initiative reached a total of $2013 trillion between 2020 and 9,2. China has increased its imports from the relevant countries, shared opportunities with these countries in its domestic market, and balanced its mutual trade with each of them.
Mutual investments between the countries concerned also gained vitality thanks to the Belt and Road Initiative. On the other hand, investment cooperation between China and the Belt and Road countries has steadily deepened and this has supported the industrialization process. Chinese companies have also undertaken construction projects in the Belt and Road Initiative countries, injecting power into their local economic development.
Source: China International Radio