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BRI Investment

China invests USD9.44 bln in 650-odd B&R agricultural projects

July 22, 2019


Abstract : hina has invested 9.44 billion U.S. dollars in more than 650 agricultural projects in countries participating the Belt and Road Initiative

BEIJING, July 23 (Xinhua) -- China has invested 9.44 billion U.S. dollars in more than 650 agricultural projects in countries participating the Belt and Road Initiative, said Ma Hongtao, director general with the Department of International Cooperation of the Ministry of Agriculture and Rural Affairs of China at a press release recently.

The investment hiked 70 percent from five years ago, noted Ma.

According to Ma, China has reaped fruitful results in agricultural cooperation under the Belt and Road Initiative (BRI).

To be specific, China's agricultural trade with B&R countries has grown further, with trade value surpassing 77 billion U.S. dollars in 2018, up 17.8 percent from five years ago.

The above-mentioned agricultural investment cooperation projects have also driven the development of local industries like grain, livestock and agricultural products processing, serving the economic and social development of B&R countries.

Chinese-funded agricultural firms have created jobs for over 100,000 local people and contributed plenty of tax revenue and foreign exchange to local governments.

These achievements are inseparable with efforts from Chinese authorities, social organizations and market players, including formulating related plans to boost foreign cooperation in agriculture, which yielded the signing of documents on agricultural and fishery cooperation with 80-odd B&R countries.

China also facilitated agricultural trade by participating in free trade negotiations and holding various agriculture-related international fairs, establishing agricultural cooperation demonstration zones to forge platforms for industrial agglomeration and investment cooperation, and building joint laboratories to foster agricultural science and technology cooperation.

Over the past five years, China's Ministry of Agriculture and Rural Affairs have sent more than 400 agricultural experts and technicians to some developing countries to provide technical assistance, strengthening people-to-people bond and mutual trust. (Edited by Gu Shanshan)

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Keyword: China agricultural-cooperation Belt-and-Road-countries

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