European Investment Bank supports China's Belt and Road strategy

European Investment Bank supports China's Belt and Road strategy

European Investment Bank supports China's Belt and Road strategy

US President's Trump's plan to focus on domestic issues and withdrawal from the Trans-Pacific Partnership, a proposed regional trade pact, has left Asian governments that want to use ties with Washington to offset China's growing dominance off balance.

"In a year of power transition, if you can score a domestic policy or diplomatic victory, it is a political bonus", said Zhang Jian, an associate political science professor at Peking University.

Shanghai-based China Eastern Airlines has operated more than 270 flights between Shanghai and Prague since the route connecting the two cities opened, with the average occupancy rate being above 80 percent, an indication of the huge business potential in the Belt and Road Initiative.

The European Union disappointed Beijing on Monday, choosing not to support a prepared statement about trade marking the end of the One Belt, One Road summit.

They expressed willingness to enhance cooperation with China to jointly promote the Belt and Road Initiative and realize the 2030 Sustainable Development Goals.

State television showed Xi and his celebrity wife, Peng Liyuan, receiving Turkish President Recep Tayyip Erdogan and other heads of state, while top diplomats, such as UK Chancellor of the Exchequer Philip Hammond, paraded on stage to praise the president's program.

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He said that China had explored a way of development financing. "Under his leadership, China's circle of friends is growing bigger and bigger". "We welcome participation from all countries to share the development opportunities", Foreign Ministry Spokesperson Hua Chunying said.

The infrastructural projects should be market-oriented and ensure sustainability, the governor of the People's Bank of China noted.

"We are of firm belief that connectivity initiatives must be based on universally recognised worldwide norms, good governance, rule of law, openness, transparency and equality".

The pledge for extra funding was recently announced at the Silk Road summit in Beijing, where Jinping addressed leaders from around the world - including heads of the United Nations, International Monetary Fund and World Bank - saying, "We should foster a new type of international relations featuring win-win cooperation".

"(It's) not their game", one Chinese banker said.

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