In 2013, Chinese President Xi Jinping put set out the strategy of building the Silk Road Economic Belt and a 21st Century Maritime Silk Road known shortly as the One Belt, One Road initiatives.
The proposal caught the interest of the global community, and quickly gained the support of nations on the route.
Over the past year, China and partner countries, together with regional organizations, have begun to build the One Belt and One Road. Innovative methods have strengthened bilateral ties and enhanced regional cooperation, making impressive progress.
This visionary concept, which leverages China's historical connections, has created a new opportunity to rejuvenate ancient economic andcultural ties. The idea carries forward the spirit of the ancient Silk Road,one that was based on mutual trust, equality and shared benefits, champion inginclusiveness, mutual learning, and cooperation.
The developmentof the initiative also promotes peace, cooperation and offers a win-win strategy for all. The concept links the Chinese dream to the global dream andhas far-reaching strategic significance.
Once the One Belt, One Road vision is realized, it will create the most promising economic corridor, directly benefiting a population of 4.4 billionpeople: 63 percent of the global population. Between them they have a collective GDP of $2.1 trillion, which accounts for 29 percent of the world's wealth.
The region One Belt, One Road encompasses is the most dynamic and vibrant economically, with many developing countries and emerging market economies offering huge growth potential. China already has close economic and trade cooperation with many nations along the proposed route, accounting for aquarter of its total foreign trade. The annual trade between China and these countries has grown by 19 percent, on average, in the past decade alone.
China recently pledged $40 billion to a Silk Road Fund, intended to improve trade and transport links in Asia. President Xi Jinping says the fund will be used to support the development of One Belt, One Road.