New growth momentum builds as Belt and Road Initiative develops

Evolution of new trade routes boosting economic growth and international cooperation. Zhong Nan and Sophie He report.

The tangible results of the development of the Belt and Road Initiative will generate new growth momentum this year. That will boost revenue growth for both global and Chinese companies while improving their abilities to conduct big-ticket projects and export excess industrial capacity to economies along the two trading routes, according to government officials and business leaders.

Wang Guoqing, spokesperson for the Fifth Session of the 12th National Committee of the Chinese People's Political Consultative Conference, said more than 100 national and regional governments, as well as international organizations have joined the development of the initiative. It is a practical measure which has helped domestic companies carry out the nation's "going global" strategy and created a large number of jobs for a number of partner economies.