BEIJING, Oct. 15 (Xinhua) -- The Belt and Road Initiative has promoted trade and foreign direct investment (FDI) by strengthening infrastructure construction and interconnection, and thus stimulated economic growth of countries along the routes and benefited the world, according to a research report on the Belt and Road released by the World Bank.
The World Bank released its preliminary results of the Belt and Road study at IMF-World Bank 2018 annual meeting in Indonesia.
The report also pointed out that the efforts on preventing debt risks and enhancing information transparency will help Belt and Road Initiative fully realize development benefits.
The infrastructure projects under the Belt and Road Initiative will significantly improve the efficiency of regional and world trade, reduce trade costs and promote regional economic growth, especially economically backward regions, said Caroline Freund, director of Trade, Regional Integration and Investment Climate of the World Bank.
China fully respects rights of participating countries and will continue to follow the market laws and international rules, and strengthen policy communication and coordination with all parties. China encourages enterprises and financial institutions to rationally design project financing structures based on economic and social benefits when carrying out projects, said Zou Jiayi, vice Minister of Finance of China.
Experts attending the meeting said despite current global trade tension, the Belt and Road Initiative will stimulate global trade growth and bring benefits to China and participating countries with its inclusive and open mode.
(Edited by Bao Nuomin,baonuomin@xinhua.org)
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