World
Where the Market Rules
Members of the 13th CPPCC National Committee comment on the progress of BRI
  ·  2019-03-25  ·   Source: NO. 13 MARCH 28, 2019
The land reclamation project in Colombo, Sri Lanka, jointly undertaken by China Communications Construction Co. Ltd. and the Sri Lankan Government under the Belt and Road Initiative. Completed on January 16, it reclaimed 269 hectares of land in less than three years (XINHUA)

Since the Belt and Road Initiative was proposed in 2013, 152 countries and international organizations have signed cooperation agreements with China under its framework. Members of the 13th Chinese People's Political Consultative Conference National Committee commented on its progress during their annual session in Beijing in March. Edited excerpts of their views follow:

Zhang Qiyue

Chinese Ambassador to Greece

When the Belt and Road vision was first articulated, not many countries were familiar with the idea of a modern-day version of the historical Silk Road.

At that time, cash-strapped Greece was eager for investment and looked to privatize its state-owned assets to repay its loans. Chinese shipping company COSCO lent a hand by investing in the Greek Port of Piraeus.

However, when COSCO first came to Greece, it sparked concerns among locals who were reluctant to see their largest and most important port run by a foreign company.

But over time COSCO has won their respect and understanding. Anyone familiar with the situation will tell you it is a reliable friend that has brought enormous changes to the Port of Piraeus.

A country can feel the positive benefits of the Belt and Road Initiative only after becoming involved in it. Through participation in its projects, they will realize that this is an open and transparent platform that encourages candid discussions and voluntary cooperation among all participants. Each country will then form its own judgment on whether the initiative is good for its own development and how it can benefit by participating in it.

Another significant feature of the initiative is that it follows market rules, where the companies are the main players. It is not a political strategy seeking to advance China's interests. All activities have to follow international rules and regulations.

Yang Guangbin

Dean of the School of International Studies, Renmin University of China

Globalization and anti-globalization have been intertwined for about 300 years. Aggressive developed countries have used globalization as a tool to push their interests in underdeveloped countries, which turned the latter against the former. So when China, a developing country, proposed the initiative, it made not only developed countries but also some developing countries concerned.

To be fair and objective, China should consider those responses. Western countries have a language advantage to spread their opinions. If we have to respond to the so-called "debt trap" fears, then the International Monetary Fund is a typical source of debt trap. During the financial crisis in 1998, it put forward terms that those who borrowed money from it must change their financial systems. Thus many countries became real victims of the trap.

Huang Ping

President of the Chinese Association of American Studies

It has been only five years since the Belt and Road Initiative began to be implemented. A large number of countries have participated in it within such a short time. However, some countries don't know China well, particularly European Union (EU) countries. Under such circumstances, China should be patient and ensure benefits for local people from each project. They will then understand the initiative is not a geopolitical tool but follows market rules.

Chinese companies need to find projects that are of mutual interest. They also need to pay special attention to local laws and culture. They should learn residents' customs, language and psychology, factors that they must take into consideration in a bid to bring social benefits for local people.

As for the so-called "debt trap," it's a baseless accusation. The Belt and Road Initiative has just started. How can it cause debts? Some countries do have debts but these are possibly historical debts. Besides, projects under the initiative are decided by market rules. No business owner wants to owe money to others. The market will stop the bad projects but the good ones will continue.

China does a lot but says little, while the West says much and leads the trend of public opinion. But behind the scene, it is affected by the zero-sum game concept and the law of the jungle, which advocates suppressing latecomers.

Li Jianhong

Chairman of China Merchants Group

The Belt and Road Initiative seeks interregional economic and trade cooperation while sharing China's achievements with other countries. However, in its pilot stage, the interregional cooperation faces the challenges of transformation and upgrading.

Such cooperation should be tailored locally; otherwise the investment and the operational mode won't fit.

The projects should be based on local economic features with an aim to improve people's wellbeing as well as create more jobs. When Chinese companies build industrial parks abroad, they should target sustainable development and abide by market rules.

The China Merchants Group has brought its experience in developing the Shekou Industrial Zone in south China's Shenzhen City to its overseas projects in Sri Lanka and Djibouti, and these projects have won positive recognition.

Zhang Zhanbin

An economist with the Chinese Academy of Governance

Building an industrial park needs financial support. It helps if the companies involved in industrial parks can get a loan from the China Development Bank or the Export-Import Bank of China. How to provide secure and efficient capital assistance is an issue that requires urgent research and resolution.

National financial supervisory bodies should work out policies with other financial departments to address the financial difficulties that some of the Chinese companies investing overseas have encountered.

 

He Zhimin

Deputy head of the China National Intellectual Property Administration (CNIPA)

Cooperation on intellectual property (IP) should be furthered, making the Belt and Road Initiative an innovative choice.

For instance, China's patents will be protected in Cambodia, since the CNIPA and Cambodia's Ministry of Industry and Handicraft reached an agreement in 2017.

Also, under an agreement signed between the CNIPA and Laos' Ministry of Science and Technology, patent application reviews conducted in China are recognized in Laos. The CNIPA has made unremitting efforts to make it convenient for Chinese applicants to be granted patents in foreign countries involved in the Belt and Road Initiative.

China is committed to strengthening IP right protection and creating an enabling and innovative business environment. Externally, it will work toward the adoption of international IP rules that are open, inclusive, balanced and effective. By putting in place a Belt and Road IP cooperation mechanism, it seeks to help advance global governance featuring IP.

Copyedited by Sudeshna Sarkar

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