Chinese Silk Road investment up 20% to $15bn, claims President Xi

Xi addresses Uzbek parliament 22 06 16Silk Road investment: Chinese companies invested nearly US$15bn in countries along the new Silk Road last year, 20% more than in 2014, President Xi Jinping told a special session of Uzbekistan’s parliament yesterday. Trade between China and participating countries topped the $1trn mark in 2015, he added, and accounted for as much as 25% of all of China’s foreign trade. 
President Xi launched the ‘One Belt Road’ initiative in 2013 since when Beijing has poured $40bn into its Silk Road Fund, with the money principally earmarked for infrastructure projects including railways and power grids in central, west and southern Asia.
“The Belt and Road Initiative’s primary planning and deployment has been completed and is now stepping onto the stage of taking root and intensive cultivation for sustained development,” he said.

Source: AKIpress