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Economic Watch: China shares development experience with B&R countries
May 17,2017   By:Xinhua

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May 17, 2017 -- The Belt and Road Forum (BRF) for International Cooperation opens in Beijing, capital of China, May 14, 2017. (Xinhua/Zhang Duo)

BEIJING, May 17, 2017 -- During the Belt and Road Forum for International Cooperation that ended Monday, China showed willingness to share its development experience for the benefit of all in need.

From the long list of outcomes of the forum, it is not difficult to see that China is sharing what has proved effective, and that China knows the the Belt and Road means concerted efforts.

INFRASTRUCTURE INVESTMENT

The Chinese government knows better than anyone the importance of investing in infrastructure if economic growth is to be sustained. Furthermore, it knows that the only purpose of growth is to improve people's lives.

In the first four months of this year, infrastructure investment rose 23.3 percent, faster than an 8.9 percent growth for overall fixed-asset investment, data from the National Bureau of Statistics showed.

China's transportation network has been constantly growing, with the world's longest stretches of high-speed rail, superhighways and urban railways in operation.

That is part of priority of the Belt and Road Initiative. Connectivity removes the bottlenecks that hamper development. Connectivity is crucial for the development momentum that improves people's lives.

Participants in the forum agreed that cooperation under the Belt and Road Initiative should make connectivity the priority and be driven by major projects and programs.

They agreed to advance cooperation in areas such as roads, railways, ports, aviation, oil and gas pipelines, electricity and telecommunications to build interconnected networks.
China had signed more than 130 bilateral and regional transportation agreements with countries involved in the Belt and Road over the past three years, all in the name of improved connectivity, the Ministry of Transport said in mid-April.

The list of deliverables released Monday included 14 new outcomes in connectivity.