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ONE BELT ONE ROAD (OBOR) INITIATIVE

Banglar Bir

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"One Belt One Road" Initiative

“One Belt One Road” is China’s roadmap for building infrastructure and trade ties. It consists of a land route from Beijing to The Netherlands, and a sea route from Quanzhou to both Antwerp and Australia.

This initiative is being led by large, G2G infrastructure projects with initial financing support from the Asian Infrastructure Investment Bank. Private companies are also being actively encouraged to invest along the Belt and Road.

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  • China General Nuclear Power purchases 13 clean energy projects in 5 OBOR countries
    China General Nuclear Power Corporation (CGN) announced today that it has acquired 13 clean energy projects from Malaysia's Edra Global Energy...
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  • LaoSat-1 telecommunications satellite delivered in orbit
    At a ceremony held in Vientiane, the Capital of Laos on 9 March 2016, the Lao government and China Asia-Pacific Mobile Telecommunications Satellite Co., Ltd., a subsidiary of China Aerospace Science and Technology Corporation (CAST), signed project documents for an in-orbit delivery of LaoSat-1- Laos’ first...
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  • Thoughts on the strategies to construct high-level overseas industrial parks
    According to conservative statistics, China has constructed more than 50 overseas industrial parks to date. To support the “One Belt, One Road” Initiative and facilitate economic restructuring, China will construct more high-level overseas industrial parks. As Ye Zhenyu, Researcher from the Institute of Industrial Economics of China Academy of Social Sciences, put it, China will put in more effort to work out a top-level design, foster a batch...
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  • Ambassadors to China are of the view that the “One Belt, One Road” initiative will benefit their country
    During the NPC and CPPCC sessions held in March 2016, the Chinese government unveiled its Thirteenth Five-year Plan for National Economic and Social Development and called for greater cooperation with the “One Belt, One Road” countries. Ambassadors from many a countries proclaimed that the “One Belt, One Road” Initiative is very important and will bring benefits to their respective countries. Ever since Chinese President Xi Jinping proposed the...
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  • Ambassadors to China are of the view that the “One Belt, One Road” initiative will benefit their country
    During the NPC and CPPCC sessions held in March 2016, the Chinese government unveiled its Thirteenth Five-year Plan for National Economic and Social Development and called for greater cooperation with the “One Belt, One Road” countries. Ambassadors from many a countries proclaimed that the “One Belt, One Road” Initiative is very important and will bring benefits to their respective countries. Ever since Chinese President Xi Jinping proposed the...
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  • NDRC collaborates with 18 provinces to promote production capacity exports
    In light of the State Council’s policy on the promotion of production capacity and equipment exports to countries along the route of the “One Belt, One Road” Initiative, the National Development & Reform Commission (NDRC) has signed collaboration agreements with 18 Chinese provinces. The agreements provide that the NDRC shall designate each province to concentrate its efforts on specific countries, work out a collaboration approach, seek...
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  • Market watch: China’s path to improved production capacity cooperation
    Recently the China Development Financing Promotion Commission (CDFPC) and the China International Chamber of Commerce for the Private Sector co-sponsored the“Third Annual Meeting for Chinese Outbound Investment 2016”. This event gathered together officers from a number of government bodies as well as experts in overseas investment. Among the topics discussed at the meeting was how to deepen production capacity cooperation with the...
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  • China needs to pave ‘One Belt One Road’ with green finance, say experts
    China’s One Belt, One Road initiative, which aims to further the country’s influence and trade links with almost 60 countries, mainly in Asia and Europe, could be a major source of environmental damage unless projects are backed by green banking, experts have told...
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  • CBBC Insights: Chinese Economy | Business opportunities arising from the Chinese government’s 2016 work report
    The 2016 Liang Hui – the annual twin meetings of the representatives of the Chinese People’s Congress and the Chinese People’s Political Consultative Conference – have just concluded in Beijing. The eyes of Chinese society and the world are always upon these two meetings, as they include the government’s summation of the preceding year and its agenda and objectives for the 12 months to come. More so this year, as the Two Sessions coincided with...
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  • Chairman of Wahaha Group: government to assist Chinese companies in overseas investments
    During the ongoing 2016 sessions of China’s top legislative body and top advisory body, Zong Qinghou, Chairman and CEO of Hangzhou Wahaha Group, hailed the “One Belt, One Road” Initiative, a platform for China to export its production capacity to boost the economies neighboring nations while harnessing the resources of those nations to meet China’s domestic demand. However, when launching business overseas, many Chinese enterprises have raised...
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  • Chinese media outlets in HK, Macau & SE Asia focus on OBOR Initiative
    Nearly 40 Chinese media outlets from Hong Kong, Macau and Southeast Asia participated in an organized media tour in Yunnan from February 27 to March 3, 2016. Media delegations from Thailand, Malaysia, the Philippines, Indonesia, Myanmar, Cambodia as well as Hong Kong and Macau toured Kunming, Pu’er and Xishuangbanna to witness the changes and improvements implemented under the “One Belt, One Road” Initiative. Reporters say that the "Silk Road...
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  • Reconfiguring the Silk Road
    China has become more commercially and diplomatically engaged in the Middle East and North Africa region, encouraging some regional countries to look east in search of an alternative partner. Arabia Monitor's Chief Economist shares her insights with Al Ahram...
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  • Australian Infrastructure Plan echoes China’s “Maritime Silk Road”
    Chinese investors are eyeing Australian infrastructure projects following the release of the country’s first 15-year Infrastructure Plan,which aims to attract overseas investment to help improve the country’s ports and public transportation...
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  • Talent Cultivation Program and Overseas Industrial Park to facilitate “One Belt, One Road” Initiative
    China Minsheng Investment Corp., Ltd. (CMI), announced a plan to invest a total of RMB 100m in 10 years to establish its "One Belt One Road" Strategic Investment and Talent Cultivation Fund. The plan aims to cultivate Indonesia-oriented business administration talent for the purpose of assisting Chinese enterprises in the Indonesian Industrial...
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  • The Silk Road Journey Photography Exhibition by Michael Yamashita (Beijing)
    "One Belt, One Road", a grand modern-day development strategy and framework proposed by Chinese President Xi Jinping for the great rejuvenation of Chinese nation after centuries, is a beneficial way to create a prosperity to be shared by all the countries along the new routes and an initative to realize not only Chinese dream but also the world dream. Culture is a bond that connects East with West and the past with the future, Reignwood Group,...
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  • Gezhouba sets aside RMB3bn for overseas expansion
    China Gezhouba Group Corporation announced Wednesday that it will set up a wholly-owned subsidiary investment arm focused on the acquisition of equity stakes and mining rights overseas. The company will have RMB3bn in registered capital, with the first tranche of RMB1bn to be paid in within 2...
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  • Silk Road blocks
    China's One Belt, One Road (OBOR) initiative is President Xi Jinping's signature strategy for realising China's emergence as a prosperous and stable world...
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  • China’s One Belt One Road Initiative: What We Know Thus Far
    President Xi Jinping launched China’s “One Belt, One Road” (OBOR) initiative in 2013 with the stated aim to connect major Eurasian economies through infrastructure, trade and investment. The initiative was later specified to contain two international trade connections: The land-based “Silk Road Economic Belt” and oceangoing “Maritime Silk Road”. The “Belt” is a network of overland road and rail routes, oil and natural gas pipelines, and other...
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  • CGA Advising Michael Yamashita
    CGA is privileged to be advising the world-famous photographer Michael Yamashita, the creator of the “Silk Road” collection, a unique portfolio of 350,000 photographs and 2 National Geographic documentary films covering 21 countries. The photographs were taken over 5 years along Marco Polo’s land route to Asia and Admiral Zheng He’s sea voyages from China to the Middle East and coastal Africa. They are particularly topical today given Pres Xi...
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  • Shanghai gives top priority to strengthening trade cooperation with the “One Belt, One Road” countries in 2016
    At the 4th session of the 14th Shanghai Municipal People’s Congress held on 24 January 2016, Shanghai Major Yang Xiong presented a report on Shanghai’s Municipal work...
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  • Hebei Province records RMB100 billion in trade with “One Belt, One Road” countries
    According to Shijiazhuang Customs statistics, Hebei Province reported RMB100.48 billion in trade with “One Belt, One Road” countries in 2015, accounting for 31.5% of the Province’s total foreign trade value for the year. Private enterprises accounted for RMB71 billion (70.6% of total trade), while foreign investment enterprises contributed RMB14.55 billion (14.55%) and state-owned enterprises contributed RMB14.94 billion (14.9%). The majority of...
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  • People’s Daily: production capacity and infrastructure connectivity rank high in China’s “One Belt, One Road” Initiative
    The “One Belt, One Road” Initiative proposed by the Chinese government fueled the global economic recovery following the 2008 financial crisis. Only by successfully prioritizing can China continue to promote the Initiative and maximize returns as quickly as possible. Infrastructure connectivity is one of the main priorities in rolling out the Initiative, as China’s track record in the design, construction, operation and financing of...
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  • Chinese overseas direct investment to “One Belt, One Road” countries grows by 18.2% in 2015
    At a news conference held on 20 January 2016, Chinese Ministry of Commerce Spokesman Shen Danyang revealed that Chinese firms made a total of $14.82 billion worth of overseas direct investment into 49 countries along the route of the “One Belt, One Road” Initiative, accounting for 12.6% of China’s total overseas foreign investment in 2015 and increasing by 18.2% year on...
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  • Xi Jinping calls for cooperation with Iran through the “One Belt, One Road” Initiative
    On January 21, Chinese President Xi Jinping paid a state visit to the Islamic Republic of Iran and published an article in an Iranian newspaper titled Working Together Towards a Bright Future in Sino-Iranian...
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  • Ministry of Foreign Affairs: China to endorse industrialization in Arab states
    On 13 January 2016, China’s Ministry of Foreign Affairs issued a communiqué titled China's Arab Policy Paper on its official website. The Communiqué calls for deeper strategic cooperation between China and the Arab world and outlines China's policies in the Middle East. According to the Paper, in promoting the “One Belt, One Road” Initiative, China is willing to take into account the development strategies of the Arab states and promote...
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  • 2015 Chinese Foreign Direct Investment Recap
    According to the Ministry of Commerce’s (MoC) preliminary statistics, Chinese firms reported $40.1bn in overseas M&A transactions over 593 deals (overseas financing included) in 2015. The composition of investors saw a dramatic shift, with privately owned companies accounting for 75.6% of total outbound investment volume. China National Chemical Corp's $9bn acquisition of Pirelli & C SpA in October 2015, is the largest Chinese outbound...
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  • China's President visits Egypt, offers financial and political support
    During a visit by Chinese President Xi Jinping on Thursday, China signed investment and aid deals worth billions of dollars with Egypt and expressed support for Cairo's efforts to maintain stability, which have included a crackdown on...
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  • Chinese President Xi Jinping's address at AIIB inauguration ceremony
    Chinese President Xi Jinping delivered an address here on Saturday at the inauguration ceremony of the Asian Infrastructure Investment Bank...
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  • China set to boost its nuclear growth through the “One Belt, One Road” policy on the strength of proprietary technologies
    Since China began construction of a pilot nuclear power project using Hualong One technology in Fujian Province on 7 May 2015, China has started to gain recognition of its nuclear technology in Britain and Argentina. It is expected to grow in popularity as it rolls out its “One Belt, One Road” initiative. To date, Hualong One technology has been adopted in about 86.42% of China’s domestic nuclear power projects. As China independently developed...
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  • Xi Jinping’s footprints in promoting the “One Belt, One Road” initiative
    Chinese President, Xi Jinping visited 14 countries in 2015, among which included Pakistan, Kazakhstan, Belarus, the U.K., Vietnam, Singapore, Zimbabwe and South Africa. President Xi’s key topic has been on the “One Belt, One Road” connectivity cooperation projects. During his visits, President Xi has not only signed a number of cooperation contracts, which includes the China–Pakistan Economic Corridor and the China-Belarus Industrial Park, but...
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  • Xi Jinping’s footprints in promoting the “One Belt, One Road” initiative
    Chinese President, Xi Jinping visited 14 countries in 2015, among which included Pakistan, Kazakhstan, Belarus, the U.K., Vietnam, Singapore, Zimbabwe and South Africa. President Xi’s key topic has been on the “One Belt, One Road” connectivity cooperation projects. During his visits, President Xi has not only signed a number of cooperation contracts, which includes the China–Pakistan Economic Corridor and the China-Belarus Industrial Park, but...
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  • The State Council supports the opening of border areas
    On 8 January 2016 the State Council released Opinions on Supportive Policies for the Development and Opening of Key Border Areas (“Opinions”), and proposed 31 institutional reform mechanism measures in a pursuit of economic growth and improvement of the people’s well-being in the border regions. Such measures include policies that will facilitate investments, simplified governmental registration and approval procedures, and incentives attractive...
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  • Qingdao Port: A demonstrative pivotal port base to support the “One Belt, One Road” policy
    On 30 December 2015, the Development Research Center of the State Council and Qingdao’s Municipality co-launched a project to develop Qingdao Port into a pivotal port base to support the “One Belt, One Road” policy. The two will collaborate on integrating key maritime navigation resources and improving transportation infrastructure facilities to ensure a seamless connection among maritime transportation, land transportation and the port...
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  • Zhang Yansheng: “One Belt, One Road” policy boosts China’s foreign trade
    Statistics from the Ministry of Commerce shows that China saw an increase in momentum in its investment in countries along the “One Belt, One Road” initiative in 2015, despite a depression in foreign trade. From January to November 2015, Chinese enterprises invested a total of $14bn in 49 “One Belt, One Road” countries; up 35.3% compared to the same period in 2014. Further, China has enhanced cooperation with such countries in inbound and...
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  • The 4th Annual China Business Conference 2016
    With the state visit of President Xi to the UK in October, and the 13th Five Year Plan to be issued in early March 2016, The 4th China Business Conference comes at a particularly important time for UK-China trade...
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  • China Insurance Investment to use $6.14bn tranche 1 fund for outbound investments
    People’s Daily Online reported on Monday that China Insurance Investment Co., Ltd., the newly formed insurance fund, has issued the tranche 1 investment fund (RMB40bn ($6.14bn)). This fund will be used for outbound investment...
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  • China Railway Group rumored to acquire Malaysian state-owned assets to compete for the high speed rail contract
    Nikkei Business Daily reported on Tuesday that Malaysian Prime Minister Najib Razak is likely to increase dependence upon China to sustain his administration over the Malaysian government. Financially plagued 1Malaysia Development Bhd...
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  • Fujian to Explore 21st Century Maritime Silk Road Opportunities
    China's Belt and Road Initiative specifically states that Fujian is to become the core area of the "21st Century Maritime Silk Road". One of the goals of the Fujian Free Trade Zone (FJFTZ) is to expand exchanges and cooperation with countries and regions along this Maritime Silk Road route, both in depth and...
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  • Wang Liming considers legal risks as the biggest concern about the “One Belt, One Road” Initiative
    During the Silk Road Forum titled “Build Benefit Community Based on the Belt and Road Initiative” held in Beijing on 6 November 2015, Wang Liming, Deputy Vice Chancellor of Renmin University of China, stated that investors are most concerned about the political, legal and investment risks associated with the Initiative as there are many factors they have to consider; including labor laws, environmental law, social security and the various...
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  • Foreign investments grows between China and countries along the route of the “One Belt, One Road” initiative
    Statistics from the Ministry of Commerce show that between January and September 2015, Chinese enterprises invested a total of $12.03bn in the 48 countries along the route of the “One Belt, One Road” Initiative, representing a year-on-year growth of 66.2%. The aforementioned investments have gone mainly to Singapore, Kazakhstan, Laos, Indonesia, Russia and Thailand. Ten countries that have received at least $1bn worth of investments from China...
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  • Chinese Vice Foreign Minister views infrastructure connectivity as the priority of the “Belt and Road” initiative
    In a speech delivered at the Silk Road Forum held in Beijing on 6 November 2015, Chinese Vice Foreign Minister, Cheng Guoping, summarized the substantive progress China has made since the “One Belt, One Road” Initiative came into effect. China plans to spend about $100bn to build 172 important water conservancy projects by 2020. Cheng also reiterated the importance of transportation infrastructure facilities for the successful implementation of...
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  • The “One Belt, One Road” policy promotes China-Netherlands food trade
    In November 2015, Rabobank and the Dutch Embassy in China co-hosted the “Opportunities for Agriculture and Logistics Sectors through the ‘One Belt, One Road’ Initiative” Forum in Shanghai. As China is shifting its economic focus to consumption, China’s demands for quality, safer and fresh food and agricultural products have been rising fast, said Zhou Bin, Head of Rabobank’s Food & Agribusiness Research and Advisory in Asia. The Initiative...
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  • China Minsheng Investment to Invest RMB 30bn to Establish Industrial Park in Indonesia
    China Minsheng Investment Corp, Ltd. (CM Investment) intends to spend approximately USD 5bn (over RMB 30bn) to establish an industrial park in Indonesia, according to CM Investment Vice President Chen Guogang, who spoke at the this year’s World Economic Forum on the “Modern Silk Road”. Once constructed, the industrial park could potentially be CM Investment’s biggest ever overseas investment. The Vice President took the opportunity to call for...
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  • International Energy Agency Executive Director Promotes Investment in Energy Infrastructure under the “One Belt, One Road” Initiative
    Shortly after beginning his term as the new Executive Director of International Energy Agency (IEA), Fatih Birol visited China on 9 September 2015 to delivered an address to the Chinese Academy of Social Science. The address, which was titled Standing Together: A New Era of IEA-China Co-operation, argued that energy infrastructure is the key to improving infrastructure connectivity in support of China’s “One Belt, One Road” Initiative, which is...
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  • Investment in Sino-Pakistan Economic Corridor Reaches USD 30bn
    Speaking in Davos at this year’s World Economic Forum, National Development & Reform Commission (NDRC) Director Xu Shaoshi stated that total investment into the Chinese-led Sino-Pakistan Economic Corridor has reached USD 30bn. China has also promoted trade cooperation in steel, metallurgy, building materials, ship building, railway and electricity in a number of other regions. Senior Chinese officials have conducted a survey and...
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  • EY Supports Corporate Investment in the “One Belt, One Road” Initiative
    To help Chinese enterprises seize the unique growth opportunities brought by the “One Belt, One Road” Initiative, EY recently issued the One Belt One Road Tax Brochure, which is intended to help enterprises and institutions interested in investing in the Initiative understand the tax risks abroad and plan accordingly. The brochure further addresses the tax considerations of cross-border holding and financing structures, overseas tax dispute...
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  • World’s Largest Solar Power Plant to be Integrated into Centralized Power Grid
    On 6 September 2015, the first 50mw photovoltaic power plant in Pakistan’s Punjab state was fully integrated with the country’s national power grid. With total investment surpassing USD 1.5bn, this project is one of the priority infrastructure projects under the Sino-Pakistan Economic Corridor, which aims to install 900mw worth of solar power systems. The power systems will be installed in three stages and are expected to be fully operational by...
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  • World’s Largest Solar Power Plant to be Integrated into Centralized Power Grid
    On 6 September 2015, the first 50mw photovoltaic power plant in Pakistan’s Punjab state was fully integrated with the country’s national power grid. With total investment surpassing USD 1.5bn, this project is one of the priority infrastructure projects under the Sino-Pakistan Economic Corridor, which aims to install 900mw worth of solar power systems. The power systems will be installed in three stages and are expected to be fully operational by...
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  • “One Belt, One Road” Initiative Counters Global Trade Contraction
    According to a report released by Netherlands Bureau for Economic Policy Analysis, total world trade in the second quarter of 2015 dropped 0.5% versus the first quarter, the largest quarter-on-quarter decline since 2009, mostly due to a standstill in Europe’s economic recovery and China’s economic slow-down. To counter this trend, China’s “One Belt, One Road” Initiative has sought to foster closer trade ties abroad and create new engines for...
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  • Silk Road Fund: Four Areas of Focus
    China’s Silk Road Fund has invested in two infrastructure projects to date, the first being a Pakistani hydropower plant project this April, and the second being the acquisition of an Italian tire maker in June with China National Chemical Corporation. Speaking at the 2015 Yabuli China Entrepreneurs Summer Forum Summit, Silk Road Fund Deputy General Manager Ding Guorong stated that the fund’s next move will be to focus its efforts on overseas...
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  • Guangxi Increases Ties to Southeast Asia in Support of the “One Belt, One Road” Policy
    As China’s only province bordering Southeast Asia by land and by sea, Guangxi is perfectly located to support the “One Belt, One Road” Initiative, and has made real progress towards improving the infrastructure connecting China to its Southeastern neighbors, says Tan Suiyu, Deputy Director of the Western Region Development Division, Guangxi Development & Reform Commission. Towards this end, Guangxi has launched a number of port construction...
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  • Chinese State-Owned Investment in “One Belt, One Road” Countries up 48.2% Year-on-Year
    Ministry of Commerce Spokesman Shen Danyang stated in a press conference held on 8 October 2015 that between January and August 2015, Chinese state-owned enterprises invested USD 10.73bn in the 48 countries along the route of the “One Belt, One Road” Initiative, representing a year-on-year growth of 48.2% and accounting for 13.9% of China’s total FDI from non-financial sectors. The aforementioned investments have mainly gone to Singapore,...
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  • China and Saudi Arabia Join Hands to Support the “One Belt, One Road” Initiative
    China and Saudi Arabia have signed an agreement to cooperate in the construction of the Silk Road Economic Belt. The signing ceremony was held in Tianshui city, Gansu Province on 28 August 2015. The two countries signed multiple bilateral agreements to cooperate in e-commerce, export of labor services, cultural exchange, tourism and the import and export of Islamic cuisine. The two countries have deepened trade ties in multiple areas since...
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  • China and Saudi Arabia Join Hands to Support the “One Belt, One Road” Initiative
    China and Saudi Arabia have signed an agreement to cooperate in the construction of the Silk Road Economic Belt. The signing ceremony was held in Tianshui city, Gansu Province on 28 August 2015. The two countries signed multiple bilateral agreements to cooperate in e-commerce, export of labor services, cultural exchange, tourism and the import and export of Islamic cuisine. The two countries have deepened trade ties in multiple areas since...
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  • CGA signs agreement with Tianjin Free Trade Zone to jointly build a service platform supporting the “Going Global” initiative
    On 4 November 2015, the Tianjin Enterprise Go Global Service Alliance: Tianjin Free Trade Zone (FTZ) Outbound Investment and Financing Comprehensive Service Platform Signing Ceremony was held at the office of Binhai New Area CBD Management Committee. It was co-sponsored by the Tianjin Commission of Commerce and the Administrative Commission of Tianjin Binhai New Area CBD. At the ceremony, ChinaGoAbroad (CGA) and its co-founder TransAsia Lawyers...
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  • Chinese Airlines Open New Routes to Support the “One Belt, One Road” Initiative
    In an effort to support the “One Belt, One Road” Initiative, Chinese airline companies have begun opening new routes to cover the cities and regions along the route of the Initiative, which has accelerated economic growth in these...
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  • China’s Henan Province Teams up with Tajikistan to Build Agricultural Industrial Park to Endorse the "One Belt, One Road" Initiative
    The General Office of China’s Henan Province has unveiled its Cooperation Plan with Tajikistan, which calls for intensified cooperation with Tajikistan in agriculture, trade and mining to echo the “One Belt, One Road” Initiative. ...
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  • Laos Vice Premier: the “One Belt, One Road” Initiative Promotes China-ASEAN Cooperation
    The 12th annual China-ASEAN Expo and China-ASEAN Business and Investment Summit were convened this year in Nanning, Guangxi Province on 18 September 2015. The Vice Premier of Laos attended the Summit and delivered an opening speech, where he spoke highly of China’s “One Belt, One Road” Initiative, and also pointed out that as of the end of 2014, China has become ASEAN’s biggest trading partner. At the ASEAN Economic Minister Meeting, it was...
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  • China to Advance Six Economic Corridors in Support of the “One Belt, One Road” Initiative
    Ou Xiaoli, Head of the “One Belt, One Road” Initiative Steering Group and Inspector to the “Opening up West” Division under China’s National Development and Reform Commission, stated in his speech at the The Fifth High-level Energy Dialogue that China has now completed the high-level framework of the “One Belt, One Road” Initiative, and the next step will be devoted to the construction of six economic corridors, namely, the China-Mongolia-Russia...
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  • Forum on “Southeast Asia: One Belt, One Road”
    CGA and TransAsia Lawyers co-hosted a forum on Southeast Asia: One Belt, One Road” at the China Overseas Investment Fair (COIFAIR) in Beijing on 23 October 2015. The forum used panel discussions to explore key policy and commercial issues. It was attended by the Ambassador of Indonesia, senior partners from EY, Kroll and Keller, Sloan, Roman & Holland LLP, as well as other senior diplomats and...
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  • Bank of China Issues USD 3bn in Offshore Bonds to Support the “One Belt, One Road” Initiative
    As of early June 2015, Bank of China expressed its intent to issue bonds in support of China’s “One Belt, One Road” Initiative. The Bank plans to issue medium-term notes in overseas markets denominated in four currencies (Chinese Yuan, Euro, Singapore Dollar, and US Dollar). Funds raised from these bonds will be deposited into its overseas branches to fund projects associated with the “One Belt, One Road” Initiative. The Bank has yet to disclose...
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  • China’s Economy Transformed by “One Belt, One Road” Initiative
    On 28 March 2015, China launched the Vision and Actions on Jointly Building the Silk Road Economic Belt and 21st Century Maritime Economic Road, a top-level strategy designed to increase connectivity between China’s inland cities and Europe, Africa, and the rest of Asia. One hundred days after the launch of this new strategy, reporters from Xinhua News Agency conducted extensive surveys in China’s inland cities, and identified three significant...
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  • China’s Ministry of Commerce Releases Updated Trade Data for Countries Involved in the “One Belt, One Road” Initiative
    According to Ministry of Commerce Spokesman Shen Danyang, China strengthened trade ties with countries along the route of China’s “One Belt, One Road” Initiative. In a press release dated 7 July 2015, The Ministry of Commerce released new trade data, showing that in the first five months of 2015, trade volume between China and the “One Belt, One Road” countries amounted to USD 398.38bn, accounting for 25.8% of total imports and exports over the...
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  • Guangxi Expands Trade with Countries along the Belt and Road Route
    Trade volume between Guangxi province and the countries along the route of China’s “One Belt, One Road” Initiative surged during the first half of 2015. Private enterprises made significant contributions, with cross border trades accounting for over 60% of growth. The Beibu Gulf Economic Zone has also seen rapid trade growth over the same period on account of its geographic location next to Vietnam, Guangxi, Hainan, and Guangdong. ASEAN remains...
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  • Shanghai to Leverage Its Strengths in facilitating the “One Belt, One Road” Initiative
    According to an article published in Wen Hui Bao newspaper by Zhang Hongming, CPPCC member and Researcher at the Shanghai Academy of Social Sciences, Shanghai aims to develop into one of China’s key “node” cities through the “One Belt, One Road” Initiative. According Zhang, Shanghai has four advantages that will make it a key part of the Initiative...
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  • Chinese Enterprises Invest USD 7.05bn in “One Belt and Road” Projects in first half of 2015
    Zhang Xiangchen, International Trade Representative of the Ministry of Commerce, said in an interview that Chinese enterprises have been actively investing in the countries along the route of the “One Belt, One Road” Initiative since the initiative was first proposed. In the first half of 2015 alone, Chinese enterprises invested USD 7.05bn into 48 countries along the route of the “One Belt One Road”, representing a year-on-year growth of 22.2%...
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  • Chengdu and Chiang Mai to become Sister Cities through the “One Belt, One Road” Initiative
    China’s Chengdu and Thailand’s Chiang Mai agreed in March 2015 to become sister cities. Since that time, non-government networking and communications have strengthened between the two cities. By taking advantage of new opportunities created through China’s “One Belt, One Road” Initiative, an increasing number of Chinese businessmen have begun investing in Chiang Mai and Greater Thailand, demonstrating great confidence in Thailand’s markets...
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  • CITIC Heavy Industries to Team up with Industry Giants to Support the “One Belt, One Road” Initiative
    Citic Heavy Industries Co., Ltd. announced in a news conference in China’s Luoyang city on 31 July 2015 that it would team up with industry giants both at home and abroad (including Lao’s Phonesack Group, Brazil’s Vale SA, China National Gold Group Corporation and Jiangxi Copper Corporation) to bolster the “One Belt, One Road” Initiative. In its move to “go global”, the company is seeking to be a leader in technological advancement while...
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  • Shanghai Shipping Exchange Launches “One Belt, One Road” Freight Index
    Shanghai Shipping Exchange (SSE) announced on 29 July 2015 it will formally launch two indices (the Belt and Road Freight Trade Index and Maritime Silk Road Freight Index) to track the trade and freight volume along the Silk Road Economic Belt and 21st Century Maritime Silk Road. Data will be sourced mainly from the Chinese National Bureau of Statistics and General Administration of Customs. According to SSE President Zhang Ye, by launching the...
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  • China to Include the Development Strategies of Other Countries in the “One Belt, One Road” Initiative
    At the 2015 Netease Annual Economists Conference held in Beijing on 25 July 2015, top economists gathered together to discuss economic reform in China, and centered in on the theme “New Tailwinds of China’s Economy”. Long Yongtu, China’s ex-Deputy Commerce Minister said in a roundtable meeting that China shall take into account the development strategies of other countries when rolling out the “One Belt, One Road” Initiative. Examples include...
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  • China and Malaysia Accelerate Cooperation in the Halal Industry Through the “One Belt, One Road” Initiative
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"One Belt One Road" Initiative

“One Belt One Road” is China’s roadmap for building infrastructure and trade ties. It consists of a land route from Beijing to The Netherlands, and a sea route from Quanzhou to both Antwerp and Australia.

This initiative is being led by large, G2G infrastructure projects with initial financing support from the Asian Infrastructure Investment Bank. Private companies are also being actively encouraged to invest along the Belt and Road.

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In response to China’s rising energy dependence on the Middle East, Beijing has been making adjustments to its energy policy. Energy production in the western part of the country has been encouraged, the energy consumption structure has been remodeled, a national energy reserve system has been constructed, energy saving has become a top priority, and increased emphasis has been placed on active energy development overseas. To ensure the diversification of oil and gas imports and their transportation routes, China has invested in dozens of major energy projects around the world, in Central Asia-Siberia, Indonesia-Australia, Africa, and Latin America. In spite of such measures, as the data show, China remains heavily reliant on Middle Eastern oil.

China’s Middle East Energy Policy in an Age of Upheaval
China’s energy policy in the Middle East faces several challenges. First, due to the recent turmoil in Yemen, the Syrian civil war, and the long-standing Israeli-Palestinian conflict, China’s investments and partnerships in the Middle East are at risk.

Second, terrorist organizations are seeking to attack oil tankers and transportation channels. ISIS not only threatens to destabilize China’s efforts at creating East-West linkages but has also declared Xinjiang a part of its caliphate. The threats posed by ISIS in Iraq have forced many Chinese enterprises in Iraq to suspend their business or consider closing down. As a result, China has taken a firm stance against the terrorist group.

Third, non-economic factors, especially corruption issues in some countries, could prove harmful to Chinese investors’ interests.

Fourth, the U.S.-led sanctions imposed on Iran due to the nuclear dispute have constrained Chinese energy policy in the region. Prior to the tightening of sanctions, Iran had been the third-largest supplier of crude oil to China after Saudi Arabia and Russia. In order to maintain strong diplomatic ties with the United States and Europe following the imposition of sanctions, China reduced its imports from Iran.

Finally, the intensifying Saudi-Iran rivalry has undoubtedly complicated China’s efforts to maintain and further develop its energy relations in the region.

Nevertheless, energy cooperation between China and the Middle East rests on a solid foundation. China is a huge energy consumer, and its demand for energy continues to rise. Middle East suppliers are eager to expand their respective market shares in China and in Asia as a whole. Furthermore, China now has more than $3.7 trillion in foreign exchange reserves—resources that can be used not just as payment for oil and gas imports but to invest in the Middle East energy market. Chinese energy companies possess the expertise to participate in energy development projects in the Middle East, while China itself has become an attractive environment for public and private investors from the region, particularly in the petrochemical sector. Overall, China has managed to develop good political relations with all Middle Eastern countries, including Israel and Iran, creating a sound strategic basis for Sino-Middle Eastern energy cooperation.

Conclusion
Within the broad “One Belt, One Road” strategy, Chinese Middle East energy policy proceeds according to the energy cooperation framework known as "1+2+3," which seeks to build a reliable China-Arab strategic cooperative relationship based on long-term friendship.[8] To avoid overdependence on the energy resources of the Middle East, China will also continue to search for other overseas energy sources and transportation channels. Despite risks and challenges associated with energy imports from the Middle East, China has cultivated strong relations with states in the region and will develop these economic ties further in the coming years.

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