Highlights of Xi’s Speech on the Belt and Road Forum

On May 14, Chinese president Xi Jinping attended the opening ceremony of the Belt and Road Forum for International Cooperation and delivered a keynote speech. In the speech, Xi proposed five principles in the pursuit of the Belt and Road Initiative, elaborating on China’s role and responsibility in building the Belt and Road.

China to work with countries participating in the Belt and Road Initiative to enhance cooperation on innovation

One Plan

China will launch the Belt and Road Science, Technology and Innovation Cooperation Action Plan

Four Initiatives

The action plan consists of the Science and Technology People-to-People Exchange Initiative, the Joint Laboratory Initiative, the Science Park Cooperation Initiative and the Technology Transfer Initiative.

5000 Persons’ Training Program

In the next five years, China will offer young foreign scientists 2,500 short-term research visits to China and train 5,000 foreign scientists, engineers and managers and set up 50 joint laboratories with countries participating in the Belt and Road Initiative.

One Platform

China will set up a big data service platform on ecological and environmental protection.

One Coalition

China proposes the establishment of an international coalition for green development on the Belt and Road and will provide support to related countries in adapting to climate change.

China to establish the Belt and Road related cooperation mechanisms

One Liaison Office

China will set up a liaison office for the follow-up activities of the Belt and Road Forum for International Cooperation

Four Centers

China will put in place a Research Center for the Belt and Road Financial and Economic Development, the Facilitating Center for Building the Belt and Road, the Multilateral Development Financial Cooperation Center in cooperation with multilateral development banks, and an IMF-China Capacity Building Center.

One Network

China will develop a network for cooperation among the NGOs in countries along the Belt and Road.

Two Alliances

China will also develop a Belt and Road news alliance and a music education alliance as well as other new people-to-people exchange platforms.

China to scale up financial support for the Belt and Road Initiative

1. China will contribute an additional 100 billion yuan to the Silk Road Fund
2. China will encourage financial institutions to conduct overseas RMB fund business with an estimated amount of about 300 billion yuan
3. The China Development Bank and the Export-Import Bank of China will set up special lending schemes respectively worth 250 billion yuan equivalent and 130 billion yuan equivalent to support Belt and Road cooperation on infrastructure, industrial capacity and financing
4. China will work with the Asian Infrastructure Investment Bank (AIIB), the BRICS New Development Bank, the World Bank and other multilateral development institutions to support Belt and Road related projects

China to provide assistance to developing countries and international organizations participating in the Belt and Road Initiative

1. 1. China will provide assistance worth 60 billion yuan to developing countries and international organizations participating in the Belt and Road Initiative to launch more projects to improve people’s well-being.
2. China will provide emergency food aid worth 2 billion yuan to developing countries along the Belt and Road and make an additional contribution of US$1 billion to the Assistance Fund for South-South Cooperation.
3. China will launch 100 “happy home” projects, 100 poverty alleviation projects and 100 health care and rehabilitation projects in countries along the Belt and Road.
4. China will provide relevant international organizations with US$1 billion to implement cooperation projects that will benefit the countries along the Belt and Road.