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China to hold second 'Silk Road' summit in two years time

19 Mai 2017

Xi confirmed that China has so far signed cooperative agreements with 68 countries and worldwide organizations concerning the initiative, including those signed during the forum.

Russian President Vladimir Putin, left, shakes hands with Chinese President Xi Jinping during the welcome ceremony for the Belt and Road Forum, at the International Conference Center at Yanqi Lake in Beijing, Monday, May 15, 2017.

Xinhua quoted Xi as saying the summit ended on a positive note and that "all are united behind the initiative, and on course for the shared future of mankind".

"We are of firm belief that connectivity initiatives must be based on universally recognized worldwide norms, good governance, rule of law, openness, transparency and equality", he said in a statement.

For his part, Hun Sen said Cambodia is ready to work with China to consolidate the traditional friendship and on the comprehensive strategic cooperative partnership. "The initiative is to build a common community with risk and benefit-sharing through extensive consultation and joint contribution", he wrote.

The Prime Minister said Pakistan is harmonizing national development plans with China-Pakistan Economic Corridor, closely coordinating with China for planning and implementation of CPEC and liaising with International Financial Institutions for policy alignment. He added the forum had passed a list of 270 achievements.

The leaders vow to contribute to a stable and equitable worldwide financial system, promote openness and connectivity among financial markets, including through mutual cooperation on payment systems and the promotion of financial inclusion, according to the document.

World leaders will gather again to gauge the progress in 2019.

The Chinese government's One Belt, One Road (OBOR) had been endorsed by 56 countries and regional organisations by signing memorandums of understanding and agreements with China. In addition, China will provide 60 billion yuan in the next three years for poverty alleviation in developing countries along the new Silk Road.

On Monday, global leaders from 130 countries gathered to hear China's plan to revive its ancient Silk Road trade route, calling it "One Belt, One Road".

The fund for the project comes from China Development Bank and Export-Import Bank of China, which have collectively provided $200 billion in loans throughout Asia, the Middle East and even Africa already.

China to hold second 'Silk Road' summit in two years time