President Xi Jinping says the progress and results of the Belt and Road Initiative are already ahead of what the Chinese government first expected.
"So far, over 100 countries and international organizations have taken part in the Belt and Road Initiative. China has signed agreements with more than 30 countries along the routes to jointly build the Belt and Road, and over 20 countries have teamed up with China on industrial cooperation. Many international organizations including the UN also participated actively, and the financial cooperation such as Asian Infrastructure Investment Bank and Silk Road Fund has been deepening, while influential landmark projects are also taking place."
The Chinese President says the "Belt and Road" strategy is already creating greater policy coordination, infrastructure, trade, financial integration and mutual understanding among the countries involved.
Xi Jinping says the program is going to be critical in helping stabilize the world economy.
"Against the backdrop of a sluggish global economy, the Belt and Road Initiative will greatly help stabilize the current world economic situation through industrial capacity cooperation between China and countries along the routes, to advance their industrialization and modernization, as well as their infrastructure's improvement."
Addressing Wednesday's symposium, Xi Jinping also says priority areas for the "Belt and Road" program are the creation of green, healthy, intelligent and peaceful projects.
He's also calling for more specific policies to be introduced to help develop more strategic projects in areas such as energy resources and core technology research and development.
The Chinese President says this should include the creation of a risk-controllable financial security system.
Xi Jinping's speech has also called on countries along the routes to do business in China, while at the same time, encouraging Chinese companies to invest in those countries.
The initiative, first proposed by Xi Jinping in 2013, is a 21st century take on the ancient Silk Road.
The routes themselves, which first began taking shape during the Tang Dynasty in the 7th century, crossed through Central Asia into Europe.
It also included a maritime component, which saw traders move from southern China, through Southeast Asia and into east Africa.
Today's Silk Road Economic Belt and 21st Century Maritime Silk Road are designed to restore that trade and infrastructure network.
For CRI, I'm Victor Ning.
