In the first half of 2019, the trade volume between China and the countries along the "belt and road" reached US $617 billion 500 million, an increase of 9.7% over the same period last year.
According to the General Administration of Customs, this increase is higher than the steady growth rate of 3.9% of China's total trade during the same period.
Imports and exports to Russia, Saudi Arabia and Egypt increased by 11.5%, 34% and 11%, respectively. The Ministry of Commerce said on the 12 th that China has signed a cooperation document with the 18 Arabia countries to build "one belt and one road". In 2018, bilateral trade volume between China and Arab countries reached 244.3 billion US dollars, an increase of 28% over the same period last year.
At the same time, the 100th member of the China-led Asian Infrastructure Investment Bank (AIIB) announced its establishment. Although Asia Investment Bank has no formal connection with the "one belt and one road", they are complementary. The Asian Investment Bank can finance infrastructure projects that support trade growth.
On Saturday, the board of the Asian Investment Bank approved applications from three African countries, Benin, Djibouti and Rwanda. Asian Investment Bank (AIB) member countries account for 78% of the world's total population and 63% of the world's GDP. Germany, Britain, France and Italy became founding members of the Asian Investment Bank in 2016, ignoring the requirement of the United States not to join the bank.
Chinese finance minister Liu Kun said on Saturday that he hoped that Asian investment bank would combine its strategy with the development blueprint of Member States, the "one belt road" and the EU's "Eurasian Interconnection Strategy".
Since January 2016, the Asian Investment Bank has provided US$8.5 billion in loans to 45 projects in 18 member countries, many of which involve renewable energy and green infrastructure. These investments have made important contributions to the interconnection and development of Asia.
