Policies
The Belt and Road Forum for International Cooperation, held in Beijing in May 2017, provided a platform for discussion and policy coordination among the member states of the Belt and Road Initiative on the basis of mutual respect and peaceful coexistence. To address challenges arising from the political, economic, cultural and social diversity along the economic corridor, an open communication channel and cooperation network that facilitates cultural exchanges and economic development is essential to build mutually beneficial relationships as member states work towards the common goals. Policy coordination is therefore of the crucial importance among the five major goals of the trans-national initiative.
Initiating Strategic Regional Coordination Mechanism
China has signed more than 50 cooperation agreements with the member states along the trade routes and international organisations
In the document entitled ‘Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road’ issued by the Chinese government in 2015, China outlined the main strategic objectives of the Belt and Road Initiative, which include establishing a multi-lateral dialogue, encouraging communications to reach consensus at international level and reach mutually accepted settlement1, promoting integration of development plans and strategies into particular policies and development projects, and facilitating the implementation of policies for cross-border economic development2. Up to 2017, China has signed more than 50 cooperation agreements with the member states along the trade routes and international organisations3, indicating that ‘policy coordination’ is gaining traction.
Proactive Diplomatic Approaches
China has managed to foster the development of the trans-national economic cooperation framework and has been actively seeking opportunities for multinational cooperation and joint development through state visits and diplomatic dialogues. The following are highlight achievements:
- The Philippines-China Trade and Investment Forum jointly organised by the Philippines and the People’s Republic of China4
- The Joint Declaration of Feasible Study on Eurasian Economic Partnership Agreement signed by the People’s Republic of China and the Russian Federation5
- The Siem Reap Declaration rectified by China and ASEAN6
China has been dedicated not only to establish foreign relations with other countries, but also to strengthen multi-lateral cooperation to build the trans-national economic corridor.
Connecting Other Member States
With its well-established business infrastructures and connections with the global market, Hong Kong can be an effective ‘Super Connector’
With its well-established business infrastructures and connections with the global market, Hong Kong can be an effective ‘Super Connector’ linking China and other countries under the Belt and Road Initiative, the Hong Kong Government has organised international forums and exhibitions pursuant to the Belt and Road strategic planning, including:
- The Fifth Asian Logistics and Maritime Conference7
- Asian Financial Forum 20178
- Belt and Road Summit held in September 20179
As an international hub, Hong Kong will continue to play a significant role in promoting the trans-national trading networks and strengthening China’s business ties with the international community.
Since President Xi proposed the development project of a new Silk Road in 2013, China has been dedicated to building mutually beneficial relationships with all the member states under the Belt and Road framework. Going forward, China will continue to strengthen its diplomatic ties with other nations with mutual political trust towards building an open and transnational community that prospers at state, regional and international levels.
[1]National Development and Reform Commission. "加強政策溝通做好四個對接共同開創“一帶一路”建設新局面" Department of Western Development, National Development and Reform Commission.
[2]Belt and Road Portal. "推動共建絲綢之路經濟帶和21世紀海上絲綢之路的願景與行動" The State
Information Center of China.
[3]Belt and Road Portal. "國家發改委主任何立峰：已簽署50多份一帶一路政府間合作協議" The State Information Center of China.
[4]Belt and Road Portal. "中菲舉辦投資論壇推動雙邊合作" The State Information Center of China.
[5]Ministry of Commerce of the People's Republic of China. "中俄簽署<關於歐亞經濟夥伴關係協定聯合可行性研究的聯合聲明>" Ministry of Commerce of the People's Republic of China.
[6]Belt and Road Portal. "第十一屆中國－東盟民間友好大會通過<暹粒宣言>" The State Information Center of China.
[7]HKTDC. "Industry Heavyweights To Attend ALMC Next Month Belt and Road, e-commerce, Big Data Analytics Spotlighted" HKTDC.
[8]Xinhuanet. "亞洲金融論壇：「一帶一路」建設有助推動亞洲貿易投資增長" Xinhuanet.
[9]Office of the Chief Executive, HKSAR Government. HKSAR Government. The 2017 Policy Address.
