US Firms 'Ready' to Get On China's Silk Road Project

Posted May 16, 2017

Speaking on the final day of the forum aimed at promoting his signature foreign initiative, Chinese President Xi Jinping said economic growth was "not on solid ground".

Chinese President Xi Jinping on Monday urged world leaders to reject protectionism at a summit on his Silk Road plan, even as some countries expressed concern over Beijing's trade and geopolitical ambitions.

"President Xi's emphasis on digital economy and financial technology suggests huge potential to be unleashed under the Belt and Road Initiative, and is an orchestra baton to fintech firms that want to expand overseas", said ShengJia, chief executive officer of NCF Group, a payment platform for internet finance.

"Spanning thousands of miles and years, the ancient silk routes embody the spirit of peace and co-operation, openness and inclusiveness, mutual learning and mutual benefit", he said.

Some European countries have refused to sign off on a trade statement at China's Silk Road summit, a diplomat said yesterday, dealing a setback to Beijing's efforts to gain full support for its initiative.

"In a world of growing interdependency and challenges, no country can tackle the challenges, also the world's problems, on its own", Mr Xi said.

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US companies are ready to get involved in China's Silk Road project, an American official said on Sunday, as Washington strikes an increasingly cooperative tone with its biggest trade rival.

The event was attended by heads of the International Monetary Fund, the World Bank, the World Economic Forum and the World Trade Organization besides leaders from different countries including Germany, Britain, France and Italy.

The Belt and Road Initiative offers many practical opportunities to change people's lives, and UNICEF is very happy to cooperate, senior United Nations official Anthony Lake said on Monday.

India refused to send an official delegation to Beijing, reflecting displeasure with China for developing a $57 billion trade corridor through Pakistan that also crosses the disputed territory of Kashmir.

Xi said that 68 countries have signed the agreement of cooperation.

China's Belt and Road Forum was held at the National Center for the Performing Arts in Beijing.

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If you drop the term "Belt and Road" in a conversation with an average Singaporean, you'll likely to get a blank look.

Pakistan signed new deals with China on Saturday worth almost $500 million ahead of Beijing's global forum on its "Silk Road" trade and infrastructure initiative for Asia, Africa and Europe, the Pakistani government said.

A clear indication of India's boycott came last night in an official statement that said India can not accept a project that violates its sovereignty and territorial integrity.

He said that CPEC is at the core of China's One Belt, One Road initiative, which has fostered inclusion and tolerance in the region.

The Jakarta-Bandung, China-Laos and Hungary-Serbia railway lines as well as the upgrading of Gwadar and Piraeus ports are also among the projects launched to realize the initiative, it was learned.

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