Chinese President Xi Jinping speaks at the opening ceremony of the Third Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing on 18 October

This year marks the 10th anniversary of the Belt and Road Initiative (BRI). Over the last decade, its vision of jointly building a road to prosperity has been translated into actions and tangible results. The BRI has hence emerged as the world’s largest platform for international cooperation, having made significant contributions to building an open world economy and a community with a shared future for humankind. In building the BRI, China has gained development while creating benefits for the world as a whole.  

“What has been achieved in the past 10 years demonstrates that the Belt and Road cooperation is on the right side of history. It represents the advancing of our times, and it is the right path forward,” Chinese President Xi Jinping said in his keynote speech at the opening ceremony of the Third Belt and Road Forum for International Cooperation (BRF) held in Beijing on October 18.  

Ten years on, the initiative envisions an even brighter future. High-quality BRI cooperation will bring participating countries still more opportunities for development. 

Shared future 

Belt and Road cooperation carries forward the enduring Silk Road spirit. As President Xi said, “The Silk Road spirit of peace and cooperation, openness and inclusiveness, mutual learning and mutual benefit is the most important source of strength for Belt and Road cooperation.”  

The Silk Road epitomises East-West exchanges and cooperation. The aim of the Belt and Road cooperation is to carry forward and promote the Silk Road spirit, rekindle vivid human memories of the prosperous ancient Silk Road, and create its brilliance in the new era. This aligns with the Chinese nation’s long-held values of world harmony and long-lasting peace, and also accords with the trend of the times, namely peace, development, and win-win cooperation.  

Belt and Road cooperation constitutes a Chinese solution to current challenges. Both problem- and action-oriented, its aim is to address common challenges that nations of the world now face. 

As the world’s second largest economy, China endeavours to maintain much more than simply its own development. The country has hence proposed a wide range of Chinese initiatives and proposals whose fresh insights into problem-solving and revitalizing development may, at this critical juncture, guide the international community’s way forward. The goal of the BRI and Global Development Initiative is to build a community with a shared future for mankind. The approach to resolving global development challenges in this regard is to enhance infrastructure interconnectivity by building interconnected and unimpeded veins and arteries that will achieve economic globalisation and realise a world economic recovery and rebalance. The proposed role of the Global Security Initiative is to tackle the security challenges that nations of the world now face, but through dialogue rather than confrontation, partnerships rather than alliances, and win-win cooperation rather than zero-sum games. The Global Civilisation Initiative is a response to the conflict of ethics existent in the international community. It advocates the common values of humanity, harmonious coexistence, and mutual learning among different civilisations. Of all these Chinese solutions, the BRI was the first, and the one that has borne the most fruit. It hence provides a solid foundation for the implementation of other global initiatives.  

A view of the Chinese-built Pelješac Bridge in Croatia on 28 July 2021

All-round connectivity 

The past 10 years of the BRI’s joint construction have promoted all-round, multi-field connectivity. Over the past decade, China has enhanced policy coordination, infrastructure connectivity, unimpeded trade, financial integration, and closer people-to-people ties. Its aim has been to broaden areas of cooperation with infrastructure connectivity as the main direction, rules and standards as the key support, and people-to-people exchanges as the foundation.  

As regards policy coordination, more than 150 countries and over 30 international organisations have signed Belt and Road cooperation documents, three sessions of BRF have been held, and over 20 specialised multilateral cooperation platforms under the BRI established. As regards infrastructure connectivity, a number of landmark projects – such as the China-Laos Railway, Jakarta-Bandung High-Speed Railway, Hungary-Serbia Railway and Piraeus Port - have been completed and put into operation.  

They now form a fundamental transportation pattern that spans land, oceans, the sky, and the Internet. In regard to trade, between 2013 and 2022 the total import and export volume between China and its BRI partner countries reached $19.1 trillion, while cumulative two-way investment exceeded $380 billion.  

Meanwhile, China has successfully held five sessions of the China International Import Expo, and signed 21 free trade agreements with 28 countries and regions. As to finance, the establishment of the Asian Infrastructure Investment Bank and the Silk Road Fund gave rise to a long-term, stable, sustainable, risk controllable investment and financing system. This paved the way towards extensive people-to-people and educational exchanges, cultural and tourism cooperation, and media and think tank cooperation. 

Sustainable progress 

In light of unprecedented and profound changes, we must ensure high-quality BRI cooperation. Ten years of practice show that this cooperation constitutes a main path towards a community with a shared future for mankind that imbues resilience and broad prospects. 

As President Xi Jinping stated, “China will work with all parties involved to deepen Belt and Road partnerships of cooperation, usher this cooperation into a new stage of high-quality development, and make relentless efforts to achieve modernisation for all countries.” Important guiding principles for high-quality Belt and Road cooperation have been laid down. They include the principle of “planning together, building together, and benefitting together,” the philosophy of open, green, and clean cooperation, and the goal of pursuing high-standard, people-centred, and sustainable cooperation. 

China will take eight major steps to support the joint pursuit of high-quality Belt and Road cooperation. They are: First, building a multidimensional Belt and Road connectivity network; second, supporting an open world economy; third, carrying out practical cooperation; fourth, promoting green development; fifth, advancing scientific and technological innovation; sixth, supporting people-to-people exchanges; seventh, promoting integrity-based Belt and Road cooperation; and eighth, strengthening institutional building towards international Belt and Road cooperation.  

A new round of global technological revolution and industrial transformation is well underway. Therefore, China will also work with its partner countries to explore cooperation potential and growth points in a bid to better serve the industrialisation, urbanisation, and modernisation processes of the related countries. The BRI originates in China, but its achievements and opportunities belong to the world. We also have reason to believe that this international public good will continue to illuminate the future of humankind.