Seven Focuses in B&R Construction

Post Time: 2019-10-14

      Since the beginning of this year and following the spirit of the 2nd Belt and Road Forum for International Cooperation (BRFIC), the Zhejiang provincial government has been working on implementing its goal of constructing a new comprehensive opening-up setup with the Belt and Road construction as a guide. Zhejiang has dedicated itself to building an important hub as part of the Belt and Road construction with seven focuses to promote the Belt and Road Initiative, taking full advantages of the province's business network, channels, and platforms.

       

Focus on Key Projects

      The ten key projects have been going smoothly. For example, the China (Zhejiang) Pilot Free Trade Zone has been under construction at an unprecedented speed, the Ningbo-Zhoushan Port has been consistently promoting its function as a hub port, the digital trade network of Zhejiang has been accelerating its global expansion, and the construction of the Yiwu-Europe China Railway Express has made new breakthroughs.

       

Focus on Private Economy

      The quality of internationalization projects has improved steadily. With the promotion of the B&R Initiative, private enterprises in Zhejiang have been accelerating their pace of internationalization. They have increased their investment in countries and regions along the B&R, and countries like Vietnam, Cambodia, Thailand, Italy, Germany, the United Kingdom, and Malaysia have become their main destinations for investment.

       

Focus on Major Projects

      On June 8, the Zhejiang Provincial Promotion Conference on Belt and Road Construction (ZPPCBRC) was held in Ningbo, and 56 achievements in the B&R construction were announced at the conference. On June 8-12, the 1st China-Central and Eastern European Countries (CEEC) Expo & International Consumer Goods Fair was held in Ningbo. During the event, 68 two-way investment projects were signed, with a total investment volume of 19.4 billion U.S. dollars.

       

Focus on Major Achievements

      In accordance with state requirements, Zhejiang has been implementing three products of the 2nd BRFIC and the 2018 Maritime Silk Road Port International Cooperation Forum—Maritime Silk Road Index, the Belt and Road Dubai Station, and Ningbo Initiative on the Maritime Silk Road Port Cooperation. Zhejiang has also been devoted to establishing a long-term tracking system for the 56 achievements announced at the ZPPCBRC.

       

Focus on Major Activities

      Zhejiang has made greater efforts to attract international investment and accelerate the implementation of a number of major internationally-funded projects, including the Hangzhou Chang'an Ford Automobile Production Line Project (with a total investment volume of 1.37 billion U.S. dollars) and Zhejiang Xinrou Metal Grid Touch Sensor Project (with a total investment of 1.82 billion U.S. dollars).

       

Focus on Yiwu-Ningbo-Zhoushan Open Corridor

      Zhejiang has plans to construct the Yiwu-Ningbo-Zhoushan Open Corridor. The corridor neighbors the Maritime Silk Road on the east and the Silk Road Economic Belt on the west. It will connect strategic growth centers like Ningbo, Zhoushan, and Yiwu.

       

Focus on “Once Will Suffice” Reform

      Zhejiang has been promoting the “Once Will Suffice” policy (an evolutionary step in streamlining administration and delegating power) to deepen the reform in the opening-up field. Zhejiang has also been dedicated to constructing international first-class ports and reducing the time for customs clearance, with the aim to facilitate cross-border trade. (Translated by Shen Yingying, edited by Mariam Ayad)