(Yicai Global) May 5 -- Investment and financing for One Belt, One Road should be market-based, and sustainable, mutually beneficial, win-win results should be targeted, People's Bank of China Governor Zhou Xiaochuan wrote in a recent China Finance article, ahead of the Belt and Road forum for international cooperation.
Resources from governments, markets, countries along the route, and international investors should be leveraged for financing to make good use of funds and advance the network of financial institutions and services, and boost yuan usage.
The international community's funding of developing countries used to rely on concessions in areas including interest rate, duration, and grace period, he said.
Most countries lack the adequate resources to make concessions when providing long-term and large-scale outbound backing. "To rely on funding support with concessions may also cause some risks and problems," Zhou said.
Bankrolling of Belt and Road construction should follow the principles of "market-based operation, mutual benefit, and win-win results, and take enterprises as the major player" as put forward by Premier Li Keqiang, Zhou said.