Agreement on building huge infrastructure link

A leaders' summit held in Nanning, Guangxi Zhuang autonomous region, has focused on building infrastructure as part of the South Channel, which is to link the Silk Road and the Marine Silk Road economic belts.

Chongqing, Guangxi, Guizhou and Gansu signed an agreement at the China-ASEAN Chamber of Commerce Leaders Summit on Aug 31, 2017 jointly to build the South Channel under Sino-Singapore Strategic Connectivity, which is to connect the Silk Road Economic Belt to the north and to link the economic corridor of the Marine Silk Road and Indochina peninsula to the south, ultimately forming a complete ring as part of the Belt and Road Initiative.

On the sidelines of the summit academics and business people suggested that private companies take a more active role in the construction.

The forum was hosted by the autonomous region government, the All-China Federation of Industry and Commerce and China Overseas Friendship Association.

The Pacific Construction Group, one of the forum's sponsors, said it intended to work with companies in Indonesia and Myanmar to accelerate construction of the channel, and it signed undertakings to this effect.

The group signed an investment agreement valued at 450 billion yuan ($65.5 billion) with the autonomous region government last year.

Over the past year it has made investment of about 50 billion yuan in 14 cities in Guangxi.