The New Silk Road is a global public good

by Levente Horváth

THE BELT AND ROAD INITIATIVE IS NOT ONLY ABOUT DEVELOPING TRADE OR BUILDING INFRASTRUCTURE, BUT ALSO ABOUT PROMOTING MUTUAL TRUST, ECONOMIC INTEGRATION AND CULTURAL INCLUSION. IT’S NO EXAGGERATION TO SAY THAT THIS PROGRAMME IS A MUTUALLY BENEFICIAL GLOBAL PUBLIC GOOD FOR ALL PARTICIPANTS - SAID TIAN GUOLI, PRESIDENT OF CHINA CONSTRUCTION BANK (CCB), IN AN INTERVIEW WITH OUR MAGAZINE.

- How do you see the role of the Belt and Road Initiative (BRI) in the Eurasian cooperation?

- The Belt and Road initiative is creating a new model for economic and trade cooperation, and connections between people. The programme will nomic players of developed Europe, while in the middle is a vast hinterland with its own huge development potential and diverse resources. promote the healthy development of economic globalisation. The BRI is a global public good. The Belt and Road takes you across the continents of Asia, Europe and Africa. At one end are the dynamic East Asian economies, at the other the eco -

- What are the benefits of the Belt and Road Initiative for the Eurasian nations?

- Under the programme, China is promoting a new development paradigm, adhering to the principles of inclusive consultation and mutual benefit. The cooperation has helped unlock the economic potential of the Eurasian countries along the Belt and Road and increased their collective competitiveness on the international market. The initiative helps to eradicate poverty in the countries that are building together under the programme.

- China Construction Bank is one of China’s big four banks and one of the world’s largest financial institutions, with many branches internationally. How is the BRI supported? Do you have related projects in the Eurasian region?

- Our bank supports the Belt and Road Initiative with the “finance + solutions” service concept. We prepared a comprehensive financial services plan for the New Silk Road Economic Belt and the 21st Century Maritime Silk Road. Along the Belt and Road, we have set up institutions in nine countries, including Hungary. The CCB has also provided financial support to more than 200 BRI projects in Eurasian countries in the fields of energy, transport and other infrastructure.

- Can Hungary be seen as a gateway or bridge between the EU and China. How do you see Hungary in the Belt and Road Initiative? How can Hungary contribute to the sustainable development of the Eurasian region?

- As part of this initiative, Hungary has long been an important gateway to Europe, and it is one of the major distribution centres for Chinese goods in Europe. In November 2021, China and Hungary signed two agreements to promote investment and cooperation in green development and the digital economy. Chinese companies continue to invest heavily in Hungary, with investment projects covering a range of sectors, including infrastructure and green energy.

The author is the Director of the Eurasia Center of John von Neumann University