One belt and one road lets other countries fall into debt traps?

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 One belt and one road lets other countries fall into debt traps?


Zhang Yesui talked about the achievements and prospects of the work along the way (source:)

Singapore Lianhe Zaobao: I want to ask a question about one belt and one road. The one belt and one way initiative has achieved many results over the past five years, but there have also been some doubts, which have been questioned for lack of transparency and sustainability, and even some countries have fallen into the trap of debt. How does China view such concerns? How do you evaluate the achievements of the one belt and one way in the past year and its future development prospects and the risks and challenges it faces? Thank you.

Zhang Yesui: Thank you for your question. One belt and one road is a major international economic cooperation initiative proposed by President Xi Jinping. It is committed to bringing more opportunities to Chinas economic growth with the world through improving interconnection. One belt and one road is a useful complement to todays multilateral cooperation mechanism.

Last year was a year of new important progress in building the one belt and one way. Sixty-seven countries have signed cooperation documents with China. So far, the total number of countries and international organizations that have signed cooperation documents with China has reached 152. All parties have cooperated closely in related areas of interconnection and achieved positive results. Several multilateral cooperation mechanisms have also been established in some professional areas. I think all of these indicate that the one belt and one road initiative has complied with the trend of win-win cooperation.

With regard to the debt problem you mentioned just now, I think the principle of one belt and one road is to discuss, build and share together. At the same time, we must adhere to the market-oriented operation mode. Its goal is to achieve high quality development. I would like to emphasize that both project selection and investment and financing cooperation are decisions made jointly by the participants.

China attaches great importance to debt sustainability and will not impose any traps on project cooperation. Of course, like other international cooperation initiatives, there will be some difficulties, problems, risks and challenges in the implementation of the one belt and one way implementation. But with the implementation and continuous improvement of the initiative, I believe that the construction of one belt and one road will surely achieve better development and bring more sense of gain to the participants.

In April this year, the second one belt and one way International Cooperation Summit Forum will be held in Beijing. This is an important opportunity to further consolidate consensus and promote cooperation. It is believed that with the joint efforts of all parties, this summit forum will achieve fruitful results. Thank you.