China to Release Funds as President Xi Jinping Pushes to Revive Silk Road Trading
China is planning to finance the construction of infrastructure that will link markets to foreign countries as President Xi Jinping is pushing with his plans in reviving the century old Silk Road trading route. The fund totaling US$ 16 billion will be overseen by Chinese policy banks and will be used in building and expanding railways, roads and pipelines in provinces as part of the strategy in facilitating trade over land and shipping routes.
More policies are announced soon to encourage Chinese lenders in financing infrastructure in countries found along the route that connects China to Europe. Chinese companies will also be encouraged and urges to invest in these countries and to also bid for contracts. The new Silk Road plans will have a land based belt and maritime route and is referred to as the Chinese national strategy after President Jinping proposed the idea to Kazakhstan. He envision an economic cooperation through the Mediterranean that will revive the old Silk Road in which trading help develop civilizations along the route.
The New Silk Road plan, comprising a land-based belt and a maritime route, has been referred to as a Chinese national strategy after Xi first proposed the idea in Kazakhstan a year ago. It envisions an economic cooperation bloc through to the Mediterranean that revives the old Silk Road, where trade helped developed civilizations along the route.