140 nations express consent in 'One Belt One Road' project: China

Beijing, March 14: The Chinese Commerce Ministry has stated that it is committed to developing the 'One Belt One Road' plan in order to strengthen its trade and boost investment.

"China will be outlining major tasks for the next stage. We will launch new cooperation platforms, including the first China International Import Expo, as well as pilot zones for free trade, and development and cooperation zones" Xinhua quotes Shan as saying.

Priority would be given to major investment and foreign aid projects, to make sure that they deliver positive socioeconomic impacts, lead as flagship projects, and be well received like shiny pearls along the Belt and Road, said the minister.

The country would also work to promote the liberalisation and facilitation of trade and investment along the Belt and Road while carrying out major foreign aid projects including the Happy Home Projects, the Anti-Poverty Projects and the Health Recovery Projects, Zhong said.

He said the Belt and Road should be built into "a road of peace, prosperity, opening up as well as innovation, and one that connects different civilisations."

In 2017, trade volume between China and countries along the Belt and Road amounted to 1.2 trillion US dollar surging 17.8 percent year on year, outpacing the 14.2 percent increase in China's total foreign trade last year, according to data released by the National Bureau of Statistics.

One belt one road, also known as the Belt and Road Initiative (BRI) is a project initiated by the Chinese President Xi Jinping. Its objective is to build trade routes between China and the countries in Central Asia, Europe and Indo-Pacific littoral countries. OBOR/ BRI is a network of roads, railways, oil pipelines, power grids, ports and other infrastructural projects meant to connect China to the world.