(Yicai Global) May 17 -- China's construction and port industries stand to benefit from the latest Belt and Road forum, UBS Securities said in its latest report.
The Chinese government signed various agreements with other countries on developing infrastructure and stimulating trade at the forum, the brokerage said. Major Chinese contractors said that they signed several new contracts and framework agreements over the past few days.
China held the Belt and Road Forum for International Cooperation in Beijing on May 14 and 15.
President Xi Jinping proposed the addition of CNY880 billion (USD128 billion) in financing to support One Belt, One Road projects, UBS said. China Development Bank and China Exim Bank confirmed several loan agreements, and local construction contractors will be the major beneficiaries of overseas expansion, the report said.
An aggressive import target will stimulate port industry revenue, UBS said. More than 30 cooperation agreements were signed at the forum. China will import USD2 trillion worth of goods from countries and regions along the Belt and Road over the next five years, which means the annual average value of imports will be 15 percent higher than in 2016.