BEIJING (INP): The white paper launched by China state council information office on Belt and Road cooperation have announced that the BRI aims at high standards, sustainability, and better lives by raising cooperation standard, investment effectiveness, supply quality, and development resilience, delivering real and substantive results for all participants. White paper says that the BRI introduces universally accepted rules and standards to guide business practices in project tendering, procurement, development and operation. It promotes high-standard cooperation and construction in various sectors. It advocates establishing free trade zones in alignment with international rules and standards, and implementing policies to promote trade and investment liberalization and facilitation to a higher level. This will ensure safe, smooth and orderly flows of people, goods, funds and data, and enable greater interconnectivity and deeper exchanges and cooperation. The approach emphasizes world-class standards, practicality, and cost-effectiveness. Pilot projects precede wider implementation, and participating countries are encouraged to adopt rules and the path adapted to their national conditions.

China has established a high-level leadership organization and issued policy documents to consistently improve BRI design and implementation. In alignment with the UN 2030 Agenda for Sustainable Development, the BRI promotes coordinated economic, social, and eco-environmental development. Its aims are to address the root causes and obstacles that hinder development and boost the self-driven development of participating countries. It strives to achieve lasting, inclusive and sustainable economic growth, integrating sustainable development principles into project selection, implementation and management. Following international practices and debt sustainability principles, it is working to create a long-term, stable, sustainable and risk-controlled investment and financing system with innovative models and diverse channels in order to establish a stable, transparent and high-quality funding guarantee system that ensures commercial and fiscal sustainability. No participating country has fallen into a debt crisis as a result of BRI cooperation.

The BRI takes a people-centered approach, with the focus on poverty eradication, job creation, and improvement of people’s wellbeing to ensure that the benefits of cooperation reach all individuals. Deeper cooperation is encouraged in areas such as public health, poverty reduction, disaster mitigation, green development, science and technology, education, culture, arts, and health care. Closer exchanges are promoted among political parties, social organizations, think tanks, youth, women, and sub-national communities. These efforts aim to create projects that are grounded in the needs of the people, increasing their sense of gain and fulfillment. China actively promotes small-scale yet impactful projects through foreign aid, benefiting people’s lives. From Asia to Africa, Latin America to the South Pacific, the construction of roads, railways, schools, hospitals and agricultural facilities contributes to poverty reduction and improves the people’s wellbeing in participating countries.

In April 2019, together with relevant countries, international organizations, and representatives from the business and academic communities, China launched the Beijing Initiative for the Clean Silk Road. This initiative calls for a clean Silk Road characterized by extensive consultation, joint contribution, and shared benefits. Chinese companies expanding globally are committed to compliance and lawful operations, adhering to the laws of both China and the host countries and to international norms. They have particularly heightened their capacity to mitigate overseas operational risks, strengthening project supervision and management to ensure the delivery of clean, cost-efficient and high-quality projects. State-owned enterprises (SOEs) directly under the central government have released 868 guidelines of compliance in key areas, and defined 5,000-plus job compliance responsibilities; SOEs and financial institutions directly under the central government and their branches have formulated and updated more than 15,000 rules for managing overseas operations. In November 2020, more than 60 Chinese enterprises engaged in extensive BRI cooperation joined in launching the Integrity and Compliance Initiative for BRI Enterprises.

Credit: Independent News Pakistan (INP) — Pak-China