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China says "Belt and Road" initiative must be green and sustainable
26 April 2019

Chinese President Xi Jinping on Friday called on participants of the Belt and Road Initiative to continuously advance the initiative along the path of high-quality development.

Xi made the statement in a keynote speech at the opening ceremony of the Second Belt and Road Forum for International Cooperation in Beijing.

The principle of extensive consultation, joint contribution and shared benefits should be upheld, he said. The open, green and clean approaches should be adhered to, he added.

The goals of high-standard, livelihood-improving and sustainable development should be achieved, according to Xi.The Belt and Road initiative will also open up development opportunities for China just as China itself is further opening up its markets to the world, Xi said.

"In accordance with the need for further opening up, (we'll) improve laws and regulations, regulate government behavior at all levels in administrative licensing, market supervision and other areas, and clean up and abolish unreasonable regulations, subsidies and practices that impede fair competition and distort the market," he said.

Xi promised to significantly shorten the negative list for foreign investments, and allow foreign companies to take a majority stake or set up wholly-owned companies in more sectors.

Tariffs will be lower and non-tariff barriers will be eliminated, Xi added.

China also aims to import more services and goods, and is willing to import competitive agricultural products and services to achieve trade balance.

"China will strengthen macroeconomic policy coordination with major economies in the world and strive to create positive spillover effects to promote a strong, sustainable, balanced and inclusive growth for the world economy," said Xi.

source: commonspace.eu

photo: The opening of the Second Belt and Road Forum for International Cooperation in Beijing on Friday, 26 April 2019. ([picture courtesy of the Xinhua news agency)

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