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BRI generates tangible benefits for involved countries

Yu Tengqun, chairman of the ICC Belt and Road Commission, addresses at the first International Cooperation and Development Conference for Young Entrepreneurs in Beijing on April 25, 2023. [Photo provided to]

The Belt and Road Initiative has become an important global public product, generating tangible benefits for participating countries including increased investment, job creation and poverty reduction, said a chairman of an international organization.

Yu Tengqun, chairman of the International Chamber of Commerce Belt and Road Commission, shared his thoughts on the achievements of the BRI and its future role in shaping regional economies during a recent written interview with China Daily website.

This year marks the 10th anniversary of the BRI, a major and transparent initiative with which China shares opportunities and pursues common development with the rest of the world.

Over the past decade, the BRI has helped to promote the development of global businesses, with over 3,000 cooperative projects worth nearly a trillion US dollars.

These projects have created 420,000 jobs and lifted nearly 40 million people out of poverty, making it a true path to development and prosperity.

Yu, who is also general manager of the National Salt Industry Group, emphasized the role of the BRI in shaping the future of regional economies.

The BRI is a groundbreaking initiative for global economic development in the 21st century and is of great positive significance in maintaining world peace, prosperity and sustainable development, he said.

The initiative has seen governments, enterprises, social organizations and people along the route actively promote policy coordination, facilities connectivity, unimpeded trade, financial integration and people-to-people bonds.

It thus has led to a comprehensive and diverse partnership in the fields of transportation, energy, telecommunications and other key sectors, paving the way for mutual development.

The ICC Belt and Road Commission, established in 2018, has been actively responding to the BRI by building a more flexible communication platform, promoting efficient dispute resolution, and driving regional and global economic development.

He emphasized that the organization recognizes the potential and opportunities of the initiative and is fulfilling its mission.

Looking ahead, the chairman of the ICC Belt and Road Commission hopes to foster greater collaboration and cooperation among young entrepreneurs along the BRI.

BRI cooperation projects are placing more emphasis on ecological protection and green low-carbon technologies, with the efficient operation of the BRI International Green Development Coalition.

China, along with Europe, Africa, Southeast Asia and South Asia, is carrying out projects in areas such as biodiversity protection, green economy, chemical management and international environmental conventions.

Many other industries, including health, new energy, fine chemicals, new generation information technology, digital economy, artificial intelligence and industrial internet, are experiencing significant growth.

Yu also highlighted the importance of ESG governance practices and the harmonious coexistence of humans and nature in realizing sustainable development.


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