China's Xi says Silk Road plan boosts finance, security ties

China's Xi says Silk Road plan boosts finance, security ties

"The worldwide community's warm response to the Belt and Road Forum for global cooperation also speaks volumes for that".

Xi said the Belt and Road initiative is "a project of the century" that will benefit people across the world. He urged Xi called for governments to pursue "greater openness and cooperation" and "reject protectionism".

He compared countries to "swan and geese" that can "fly long and safely through winds and storms because they move in tandem and help each other as a team".

Sharif said the Belt and Road "rejected the encirclement for any country".

China had invited India to participate in six separate forums as part of a two-day OBOR summit being held in Beijing.

"We should build an open platform of cooperation and uphold and grow an open world economy", Xi told the opening of the summit. By some estimates, China plans to pump US$150 billion (S$210 billion) into such projects each year. The initiative spans some 65 countries representing 60 per cent of the world population and around a third of global gross domestic product.

President Donald Trump was scathing about China's trade policies on the campaign trail, but relations have warmed in recent weeks as the USA leader softens his stance.

Xi has advocated for aligning projects with the development goals of institutions such as the Asia-Pacific Economic Cooperation (APEC), ASEAN, African Union and the European Union.

World leaders Chinese President Xi Jinping, Russian President Vladimir Putin, President Rodrigo Duterte and other state and government leaders have gathered at an global event for an economic trade cooperation initiated by China. "Today any signals that would give hope for stability are in demand".

Turkish president Recep Tayyip Erdogan met his Chinese counterpart in Beijing on Sunday and reportedly extended his support to the initiative.

The text on trade is one of the statements that are expected to be published at the end of the summit later Monday, along with the final communique.

The diplomat said some European nations taking part in the summit's trade panel made a decision to rebuff the text because they believed it did not sufficiently address European concerns surrounding transparency of public procurement and social and environmental standards.

India's decision to stay away has raised eyebrows here, as other countries such as Japan and Vietnam, which have serious maritime disputes with China, have sent high-level official delegations, to the BRF.

"Shifting educational resources and helping improve the education of the poor is the best investment you can possibly make", he said.

Proposed in 2013 by Xi, the project is broad on ambition but still short on specifics.

Xi announced that Beijing promises to provide 540 million Yuan (78 billion dollars) of financial support for the Belt and Road initiative, and Asian Infrastructure Investment Bank is providing a further 1.7 billion dollars worth of loans to the participant countries.

"It is regrettable but not a problem that India still maintains its strong opposition, even though China has repeatedly said its position on the Kashmir dispute would not change because of the China-Pakistan Economic Corridor (CPEC)", said the article written by Global Times reporter Wang Jiamei.

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