By Cheng Guoqiang, Research Fellow, Director-General of International Cooperation Department , Secretary-General of the Academic Committee of DRC

The newly released “Vision and Action Plan for Jointly Building the Silk Road Economic Belt and the 21st Century Maritime Silk Road” gives a comprehensive illustration of the concept, target and mechanism of the “One Belt and One Road” Initiative, reflecting an in-depth inheritance and promotion of the spirit of the silk road in ancient times. With profound connotations and great significance, the Initiative embodies a systematic reflection of the grand economic vision in terms of opening up and cooperation among countries and regions along the Belt and Road routes and points out the direction with a clear goal for those countries and regions in jointly building the One Belt and One Road through common consultations. The significance of the “One Belt and One Road” Initiative can be narrowed down to the following aspects:

Firstly, the promotion of the construction of the “One Belt and One Road” will foster a new landscape for China’s endeavour in boosting a comprehensive opening up, and the “One Belt and One Road” Initiative would meet the demand of China’s deepening opening up and comprehensively improve the level of an open-oriented economy.

Secondly, the jointly building of the “One Belt and One Road” will provide a new impetus to China’s and world’s economy. The construction of the “One Belt and One Road” will connect the developed European economic circle with the most dynamic East Asian economic circle and promote the development of countries in Central Asia, West Asia, South Asia and Southeast Asia, forming an integrated Asia-Europe market and driving the development of Africa.

Thirdly, the jointly building of “One Belt and One Road” will contribute greatly to the regional development of Asia, Europe and Africa, as well as the peaceful development of the world. The jointly building of “One Belt and One Road” will benefit the optimization and innovation of international cooperation and the global governance mechanism. The Initiative adheres to the principle of joint consultations and co-construction for shared benefits with the aim of promoting the development of countries and regions along the Belt and Road routes so as to increase the cohesion of their development strategies and complement each other’s advantages.