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International programs to improve Chinas role

2017-9-26 8:48:50

 

China aimed to shape the world economic order through big international projects, according to a report on British news website bbc.com.

 

China promoted economic globalization, opposed trade protectionism while pushing ahead cooperation with emerging economies and developing countries in meetings such as the Belt and Road Summit, according to the report.

 

The Belt and Road Initiative proposed by China was called a "huge ambitious vision" by Jim Yong Kim, the president of the World Bank, who said China is stepping into a much larger leadership role.

 

Five global programs were then listed and analyzed based on their importance in the trade links between China and other countries and regions. Here, we take a look at the programs.

 

1. China-Europe freight trains

 

China operates many rail freight services to European cities, including Madrid, London, Hamburg and Warsaw.

 

China plans 51 freight service lines, linking 28 Chinese cities to 29 cities in 11 European countries, according to Xinhua News Agency. Earlier this year, a direct rail freight service was launched from Yiwu, Zhejiang province, to London.

 

China also plans to improve the network. A high-speed railway line linking Beijing to Moscow is on the table. The line will shorten the 7,000-kilomter distance to less than 30 hours.

 

2. Railway networks in Asia

 

China is pushing ahead with the construction of the Trans-Asian Railway Network. There has been a gradual progress since 18 countries signed the Trans-Asian Railway Network agreement in 2006.

 

The line in Kunming will extend east to Laos, linking Bangkok, Kuala Lumpur and finally Singapore. There are plans to connect tracks to Vietnam, Cambodia and Myanmar.

 

The construction of the new 414-kilometer China-Laos railway began last year.

 

Chinese companies started building Indonesias high-speed rail link connecting the capital Jakarta with Bandung, the countrys first overseas high-speed project that Chinese companies bagged in 2015.

 

3. China-Pakistan Economic Corridor

 

The China-Pakistan Economic Corridor (CPEC), one of the six economic corridors envisaged by the Belt and Road Initiative, has seen rapid progress, with major highway, railway and port projects underway.

 

Last year, $1.8 billion from China, Pakistans largest investor, was used to implement many CPEC projects, especially in energy.

 

Gwadar Port is an important part of the economic corridor. The port will help China to extend trade to Middle East and Africa by getting around the Strait of Malacca. It is adjacent to the Gulf, providing China a 3,000 kilometer overland route from the port to Xinjiang to import crude oil.

 

4. Colombo Port

 

China and Sri Lanka treat the development of the 21st-Century Maritime Silk Road as an opportunity to further advance bilateral cooperation and infrastructure development.

 

The Chinese projects in Sri Lanka include a mega Port City project in Colombo, which will be the first of its kind in South Asia, and the development of the Hambantota Port in southern Sri Lanka.

 

Colombo Port City, the $1.4 billion project, which is currently under construction near the Colombo Harbor, is Sri Lankas largest foreign direct investment.

 

The Sri Lankan cabinet in July approved an agreement on the Hambantota Port that China Merchants Port Holdings will own 70 percent stake of the port while Sri Lanka Ports Authority will own 30 percent.

 

5. Projects in Africa

 

Constructing railways in Africa has played an important role in the countrys going-out in Africa. Chinese companies are building the Mombasa-Nairobi railway in Kenya.

 

The railway in Kenya is part of an important future traffic network in East Africa, connecting Uganda, South Sultan and Rwanda, further reaching Addis Ababa of Ethiopia.

 

Chinese companies have built a 752-km railway linking Ethiopias capital, Addis Ababa, and the port of Djibouti.