The Belt and Road Initiative Leads to Sustainable Development

By Muhammad Zamir Assadi

The 19th National Congress of the Communist Party of China (CPC) stressed that the Belt and Road Initiative will be carried forward to promote international cooperation and continue to take an active part in reforming and developing the global governance system and reviving the sluggish global economy.

The announcement regarding the Initiative at the highest level gathering of the Chinese political system has given a clear and vivid message to the international community that the game changer plan which has reshaped the landscape of globalization will play an even more important role in future, especially for developing and emerging economies.

The Belt and Road Initiative got center stage with the new political thought of Xi Jinping which states that socialism with Chinese characteristics has entered a new era that will help not only in building a moderately prosperous Chinese society, but also other developing economies as well.

It sent a strong message to member countries of this Initiative that the game changer and destiny decider plan will be pushed forward as a top priority like before and play its role in boosting global economic growth.

On the one hand, member countries of the Belt and Road Initiative and people who were focusing on this significant gathering felt satisfied as the mega infrastructure projects will be carried forward and executed more smoothly.

So far, 74 countries and international institutions have signed agreements with China to boost cooperation under the Belt and Road Initiative framework, while the first Belt and Road Forum for International Cooperation hosted in Beijing 29 state leaders and CEOs representing hundreds of organizations.

Since 2013, China has invested more than $50 billion in countries along the Belt and Road, which has totally changed the economic indicators in their economies.

The Initiative has led the development of 56 economic and trade zones in more than 20 countries, which have helped create around 2 million jobs and involve transfers of Chinese technology and expertise.

The Initiative has also generated some $1.1 billion of tax revenue in different countries, which has pushed up their reserves.

Investment from the Silk Road Fund, which was established by China in 2014, has touched $4 billion, while the establishment of the Asian Infrastructure Investment Bank (AIIB) has also helped in financing projects in member countries.

The CPC takes credit for leading China to become the second largest economy in the world by having the largest reserves in its hands, and now the Party leads the Chinese people toward sustainable development.

The goals and the targets are clear, and now the path mentioned at the Party Congress of more opening up with a “going global” and “bringing in” approach in trade will be a greater step toward rejuvenation of mankind based on win-win cooperation.

The CPC is confident enough that the Belt and Road Initiative will definitely change the fate of billions of people by focusing on promoting policy coordination, infrastructural development, connectivity, economic integration, people-to-people exchanges and unimpeded trade with the goal of bringing benefits to all.

The Chinese system led by the CPC stands firm, ready and committed to drive a new round of sustainable development, which will benefit the rest of the world.

The Belt and Road Initiative is successfully integrating economic resources and developing policies to pursue shared benefits among different participant regions.

If the largest political party in the world, with 89 million members, has the ability and skills to lift more than 700 million out of poverty in only four decades, then they definitely carry a strong commitment to change the lives of billions through the Belt and Road Initiative.

China is on track to achieve its broad goal of a moderately prosperous society.

The successful model of socialism with Chinese characteristics in the new era may carry forward the Belt and Road Initiative to the future for fostering a new type of international relations in the great endeavor of building a community with a shared future.

The international community is focusing on how the CPC, in the great struggle toward sustainable prosperity and with the game changing Belt and Road Initiative, will fulfill the international dream of common prosperity.

The author is an international correspondent of Independent News Pakistan based in Beijing

Copyedited by Chris Surtees

Opinion articles reflect the views of their authors, not necessarily those of China Matters

Source: Beijing Review