China's Xi says Belt and Road must be green, sustainable

BEIJING: China’s Belt and Road initiative must be green and sustainable, President Xi Jinping said at the opening of a summit on his grand plan on Friday, adding that the massive infrastructure and trade plan should result in “high-quality” growth for everyone.

Xi’s plan to rebuild the old Silk Road to connect China with Asia, Europe and beyond has become mired in controversy as some partner nations have bemoaned the high cost of infrastructure projects.

China has not said exactly how much money will be needed in total, but some independent estimates suggest it will run into several trillion dollars.

Xi said in a keynote speech that environmental protection must underpin the scheme “to protect the common home we live in”.

“We must adhere to the concept of openness, greenness, and cleanliness,” he said.

“Operate in the sun and fight corruption together with zero tolerance,” Xi added.

“Building high-quality, sustainable, risk-resistant, reasonably priced, and inclusive infrastructure will help countries to fully utilise their resource endowments.”

He said the Belt and Road Initiative (BRI) has also created a new platform to boost international trade and investment, expand new practices to optimize global economic governance and make new contributions to improving well-being of people of all countries.

Xi Jinping said China will negotiate and sign high-standard free trade agreements with more countries.

He said China will also work with other parties to promote a coalition of sustainable cities and an international coalition for green development under the Belt and Road Initiative.

Xi said China will allow foreign investors to operate businesses in more sectors with controlling or full stake.

Xi launched the Belt and Road initiative in 2013, and according to data from Refinitiv, the total value of projects in the scheme stands at $3.67 trillion, spanning countries in Asia, Europe, Africa, Oceania and South America.