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Vice Foreign Minister Le Yucheng :More Opportunities Than Challenges in the Issue of Debt.

2018/09/26

Le Yucheng, Chinese Vice Minister for Foreign Affairs, said in an interview with the Financial Times that the Belt and Road Initiative is in line with China's development stage and in keeping with and leading the trend of the times.

He expresses that we hope that through the BRI, we can achieve greater development and also be better positioned to help other developing countries. We believe that people, or countries for that matter, can't just care about themselves, put self-interest above everything else or seek a beggar-thy-neighbor approach.

For the past five years, the total volume of goods traded between China and BRI countries has exceeded US$5 trillion. Direct Chinese investment surpassed US$70 billion, and the total value of contracted projects is over US$500 billion. During last year's Belt and Road Forum, China and relevant countries reached a total of 279 outcomes, which have been or on course to be delivered.

Around the world, China has helped build 82 economic and trade cooperation zones, contributing over US$2 billion of tax revenues and over 200,000 jobs to host countries. With our cooperation, Kazakhstan, the largest landlocked country, has a sea outlet and can now access the Pacific through the Lianyungang port in China. The China-Laos railway is expected to turn Laos, a landlocked country, into a land-linked country. And Maldives, a country of islands, has seen its dream of being connected by bridge come true. For the first time in its history, Belarus has its own passenger car production facility, and the industrial park set up by China there is the largest in Eurasia. The construction of the Jakarta-Bandung railway and the Belgrade-Budapest railway has been kicked off. Four railways have been completed in Africa, and a number of railways and roads are under way. These are the early harvests of the BRI and they fully demonstrate that the BRI is in line with China's development stage. Rather than being ahead of the times, the BRI is in keeping with and leading the trend of the times.

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