According to a new report, between China and countries along the Belt and Road, trade volume added to $1.1 trillion in 2017, up 14.8 percent year-on-year, which is 3.4 percentage points higher compared to the growth of the country’s total foreign trade.
The Belt and Road initiative basically refers to building a Silk Road Economic Belt and the 21st Century Maritime Silk Road. It has been well recieved by over 140 countries and regions in the last 5 years span.
China had invested over $60 billion to countries along the route. The country has invested in a number of sectors like manufacturing, agriculture, and infrastructure.
According to the report, various projects were making good progress too. It includes the construction of railways, energy, expressways, ports and resources and the operation of manufacturing projects.
China has set up 75 zones for economic and trade cooperation in countries along the routes, with over $27 billion investment.
The ministry will launch new cooperation platforms including the first China International Import Expo in the next step.
China will also support e-commerce via big data. In addition, the country will promote the facilitation of trade and investment along the route in addition to implementing foreign aid projects.