From Hangzhou to Hamburg: Xi offers Chinese wisdom to G20

CONNECTING THE WORLD

There is an old saying in Chinese -- good roads bring good fortune. In past decades China has been building highways, railroads and ports, and every possible transport to connect every possible place in the country, bringing a large number of people out of poverty.

And now, China is taking this solution to the global stage, building "a community of shared future," headlined by the Belt and Road Initiative.

Named after the historic Silk Road, the Belt and Road Initiative was proposed by Xi in 2013 to chart out new territories for international cooperation.

By linking countries and regions that account for about 60 percent of the world's population and 30 percent of global GDP, the initiative is a perfect example of China sharing its own wisdom and solutions for global growth and governance.

So far, 68 countries and international organizations have signed agreements with China on Belt and Road cooperation. Total trade between China and other Belt and Road countries exceeded $3 trillion between 2014 and 2016, and Chinese investment in these countries surpassed 50 billion dollars.

In Beijing, all G20 economies were represented at the Belt and Road Forum for International Cooperation in May, which was attended by 1,500 representatives from over 130 countries and over 70 international organizations.

Calling the forum a success, Xi said Friday that the commitment of the Belt and Road Forum was highly compatible with the goals of the G20.

"Guided by a new vision of governance, we built a new platform of cooperation to tap into new sources of growth," the president said.

In an interview with Xinhua, former Chinese Vice Foreign Minister He Yafei said that the Belt and Road Initiative focused more on international cooperation and integration of civilizations.

"It is more about inclusiveness and sharing the benefits, and thus could help counter the current anti-globalization and populist trend ...With the Initiative, globalization will no longer be a privilege only enjoyed by a handful of countries and transnational corporations," He said. "This is our contribution to global governance."