Business

Belt And Road Push: Chinese provinces invest more

Leaders from 29 countries will attend the Belt and Road forum in Beijing

Reuters May 14, 2017

A man walks past the China National Convention Center, a venue of the upcoming Belt and Road Forum in Beijing, China, May 12, 2017. PHOTO: REUTERS

BEIJING: Chinese provinces are gearing up for more investment in railways and ports at home to expand international trade in response to President Xi Jinping’s ambitious Belt and Road initiative, government officials said on Saturday. Leaders from 29 countries will attend the Belt and Road forum in Beijing on Sunday and Monday. While China’s outbound investment appears to be a key focus of the new Silk Road initiative, some Chinese provinces seen as strategic to the plans said they are also ramping up infrastructure investment. Officials from the Chinese province of Zhejiang, an affluent coastal province in eastern China, said it is planning new Belt and Road-related projects worth 123 billion yuan ($17.8 billion).

Published in The Express Tribune, May 14^th, 2017.

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