The Belt and Road Initiative (BRI) is win-win economic globalization

The Belt and Road Initiative (BRI) is a win-win version of economic globalization, according to the World Openness Report 2021 released on Friday.

The joint construction of Belt and Road has built a platform for deepening international trade and investment cooperation, and has provided opportunities for the coordinated development of relevant countries, the report said.

The joint construction of the Belt and Road has also facilitated and increased trade, it said. China’s merchandise trade with Belt and Road countries totaled 9.2 trillion U.S. dollars from 2013 to 2020.

China has actively expanded imports, sharing opportunities in the Chinese market with these countries and making bilateral trade more balanced, it said.

Bilateral investment also gains momentum through the BRI, the report noted. Investment cooperation between China and Belt and Road countries has been continually deepened, promoting the industrialization process.

Chinese enterprises have also carried out construction projects in countries involved in the BRI, injecting impetus into local economic development, according to the report.

Released during the fourth China International Import Expo (CIIE), the World Openness Report 2021 was compiled by the Institute of World Economics and Politics under the Chinese Academy of Social Sciences and the Research Center for the Hongqiao International Economic Forum