Report: Belt and Road helpful in economic recovery

As high as 87 percent of central banks deemed the Belt and Road Initiative conducive to economic recovery in the post-pandemic era, according to the China Report 2021 released at the International Finance Forum, as reported by Xinhua News Agency on Sunday.

The report found a majority of central banks surveyed expect the Belt and Road Initiative will promote GDP growth for their countries in the next five years, and 75 percent considered Belt and Road projects helpful in green recovery and sustainable development.

Investment in green energies and transportation (90 percent of central banks surveyed) and co-formulating project standards (80 percent) are thought to be the most imperative channels to realize cooperation.

The report concluded investment in a low-carbon society and healthy natural system is the only way to ensure the long-term profitability of the financial industry.

The IFF was found by more than 20 countries, regions and international organizations including China, the US and the EU in October 2003.