MNI BRIEF: China Will Look To Belt & Road Amid Trade Tensions

China will look to strengthen economic links with countries in its Belt and Road Initiative as its trade with the west runs into obstacles, policy advisors said at a symposium on the 10th anniversary of BRI on Thursday in Beijing.

Trade with BRI countries grew by 7.4% year-on-year in the first seven months of this year while China’s total import and export of goods rose by only 0.4% y/y, noted Bai Ming, researcher of the Chinese Academy of International Trade and Economic Cooperation at the event organised by Chongyang Institute for Financial Studies at Renmin University of China (RDCY).

More than 4,000 investment projects worth USD4 trillion have been launched under BRI in its first decade, said RDCY Executive Dean Wang Wen, adding that the initiative has led to the construction in Africa of more than 10,000 kilometres of roads, 6,000 kilometres of railways and nearly 20 ports.