Monday, May 15, 2017

China invests $124bn in Belt and Road global trade project

(Source: BBC) China's President Xi Jinping has pledged $124bn for the scheme, known as the Belt and Road initiative. "Trade is the important engine of economic development," Mr Xi said at a summit of world leaders in Beijing.

The plan, which aims to expand trade links between Asia, Africa, Europe and beyond, was first unveiled in 2013. Part of the massive funding boost, which is aimed at strengthening China's links with its trading partners, includes 60bn yuan ($9bn) in aid to developing countries and international institutions that form part of the Belt and Road project. Read the report at http://www.bbc.com/

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