{"id":13177,"date":"2017-05-15T11:20:39","date_gmt":"2017-05-15T10:20:39","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=13177"},"modified":"2017-05-15T11:20:39","modified_gmt":"2017-05-15T10:20:39","slug":"china-explains-global-trade-project-invests-124b-to-rebuild-seaports-roads-rail-networks","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/china-explains-global-trade-project-invests-124b-to-rebuild-seaports-roads-rail-networks\/","title":{"rendered":"China explains global trade project, invests $124b to rebuild seaports, roads, rail networks"},"content":{"rendered":"
The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks.<\/div>\n

China\u2019s President Xi Jinping has pledged $124bn (\u00a396bn) for the scheme, known as the Belt and Road initiative.<\/p>\n

\u201cTrade is the important engine of economic development,\u201d Mr Xi said at a summit of world leaders in Beijing.<\/p>\n

The plan, which aims to expand trade links between Asia, Africa, Europe and beyond, was first unveiled in 2013.<\/p>\n

Part of the massive funding boost, which is aimed at strengthening China\u2019s links with its trading partners, includes 60bn yuan ($9bn; \u00a37bn) in aid to developing countries and international institutions that form part of the Belt and Road project.<\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

Mr Xi used his speech to assure Western diplomats that the plan, described as the new Silk Road<\/a>, was not simply an attempt to promote Chinese influence globally.<\/p>\n

\u201cIn advancing the Belt and Road, we will not re-tread the old path of games between foes. Instead we will create a new model of co-operation and mutual benefit,\u201d Mr Xi said at the opening of the two-day summit.<\/p>\n

\u201cWe should build an open platform of co-operation and uphold and grow an open world economy,\u201d he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks. China\u2019s President Xi Jinping has pledged $124bn (\u00a396bn) for the scheme, known as the Belt and Road initiative. \u201cTrade is the important engine of economic development,\u201d Mr Xi said at a …<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[470],"coauthors":[2392,2393],"class_list":["post-13177","post","type-post","status-publish","format-standard","","category-business","tag-china"],"yoast_head":"\nChina explains global trade project, invests $124b to rebuild seaports, roads, rail networks - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/china-explains-global-trade-project-invests-124b-to-rebuild-seaports-roads-rail-networks\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China explains global trade project, invests $124b to rebuild seaports, roads, rail networks - National Wire\" \/>\n<meta property=\"og:description\" content=\"The Chinese government is investing tens of billions of dollars as part of an ambitious economic plan to rebuild ports, roads and rail networks. 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