(Yicai Global) June 3 -- China has signed agreements with more than 30 countries to further its 'One Belt, One Road' economic initiative, Mr. Zhang Xiangchen, deputy China international trade representative of the Ministry of Commerce, said yesterday.
Work has already begun on some major frameworks of the project such as the economic corridors of China-Mongolia-Russia, China-Southeast Asian Peninsula, China-Central Asia-West Asia, China-Pakistan and Bangladesh-China-India-Myanmar.
Collaborative infrastructure construction is one of the main focuses of the economic initiative, said Mr. Zhang. Representative projects such as the Jakarta-Bandung High Speed Rail, the Hungary-Serbian Railway, the China-Russia Gas Pipeline, Pakistan's Gwadar Port and the China-Kazakhstan Logistics Base have either been completed or are in full swing.
Often compared with the ancient Silk Road, the initiative is aimed at creating new links between Asia, Europe and Africa. 'One Belt' refers to a link stretching from China to Europe through Central Asia, while 'One Road' refers to a link from China to its port facilities on Africa's coastline and through the Suez Canal into the Mediterranean Sea.