Trade volume between China and countries along the Belt and Road (B&R) Initiative totaled USD 1.3 trillion in 2018, according to data provided by China’s Ministry of Commerce (MOC). This marked a year-on-year growth of 16.3%, 3.7 percentage points higher than China’s trade growth in 2018.
Namely, China exported goods worth USD 704.73 billion to Belt and Road countries last year, up 10.9% year on year, while importing goods from them worth USD 563.07 billion, rising 23.9% year on year.
Chinese firms invested 15.64 billion dollars in non-financial sectors in B&R countries last year, up 8.9% year on year, while receiving investment from them totaling USD 6.08 billion, up 11.9%.
China will further open up the market to share more opportunities with B&R countries and promote mutual opening-up among them. China will also promote free and facilitation of trade and investment in the region…
…Gao Feng, a spokesperson for the MOC, stated.
One Belt One Road initiative (OBOR) has been under development since 2013, in order to build trade and infrastructure networks, connecting Asia with Europe and Africa through the ancient Silk Road routes.
Europe has taken advantage of the initiative to exchange goods and services by sea, helping regional development. Recently, China Ambassador to France Zhai Jun said that China and France are expected to jointly launch several projects on infrastructure and ecology in the coming years under the framework of the Belt and Road Initiative, China Daily reported.
