ures are consistent with the top-line measured GDP growth number. For example, production and
supply of electricity, thermal power, gas and water increased by 7.1 percent in the quarter. Pl
us, value-added index of transport, storage and post increased by 7.3 percent.
A closer look at the highest growth sectors shows that the economy is moving toward the long-term goal of shif
ting away from a development strategy based on heavy investment in industry and
infrastructure to one based on services and domestic consumption. Also, more productive industries that tur
n out higher-value added goods are growing at a much faster rate than traditional heavy industry.
Among large companies, State-owned enterprises grew 4.5 percent yea
r-on-year while shareholding enterprises grew almost twice as fast, at 7.8 percent. So, stro
ng progress is being made toward the goal of promoting private enterprise, which was re
inforced by many policies announced at last month’s meeting of the National People’s Congress.
versity of St. Thomas in Houston, Texas, in the United States, said Xi
wants to convey a specific message: that China sees the BRI as a method by which it can make
a substantial and permanent contribution to lasting peace, common security and global prosperity.
“While some Westerners may scoff at the impact they think the BRI m
ay have on these issues, Xi genuinely sees the BRI as a global development project and will cont
inue to wholeheartedly put China’s money, resources and energies into this project,” he said.
Chen Weihua in Brussels, Bo Leung in London, Zhao Huanxin in Washington, Edith Muteth
ya in Nairobi and Chen Yingqun in Beijing contributed to this story.The profits of China’s major indu
strial firms surged by 13.9 percent in March, a drastic rebound compared to the 14-percent decline in January-Febru
ary period, official data from the National Bureau of Statistics (NBS) showed Saturday.
ancing needs, sustainable development and debt sustainability, according to Finance Minister Liu Kun.
“We will build a high-standard and high-quality financing system to s
upport long-term and sustainable BRI investment while preventing debt risks,” Liu said.
He suggested promoting financing cooperation for projects in
third-party countries, equity investment and attracting more private funding.
Enhancing debt and risk management is a key consideration for deepening BRI financi
ng cooperation, said Yi Gang, governor of the People’s Bank of China, the central bank.
“The debt issue in developing countries should be treated objective
ly. If debt growth is accompanied by infrastructure improvement, enhancement of people’s liveliho
ods and productivity and poverty reduction, it will be beneficial for the sustainability of long-term debt,” Yi said.
According to Chilean Ambassador Luis Schmidt, the two countries on Wednesday secured a deal to open the Chinese market to Chilean pears.
He said he is expecting the first pear exports to China to take place soon.
Zhou Jin contributed to this story.
Liu Cailin, a Hebei Academy of Fine Arts graduate, is a member of the Tujia ethnic group.
At school Liu interned at design companies during summer and winter vacations. It wa
s then that he fell in love with jewelry design. Several months after he graduated, Liu opened his own workshop.
For lovers, every gift is special. Liu once received a message: a girl received a leaf from her boyfriend, and wanted to preserve it in some
way. Liu decided to make a silver piece of jewelry for her, one of more than 2,000 stories he’s turned into works of art.
Liu now has more than 1.2 million fans and monthly sales of 150,000 yuan ($22,283), a figure that could top 350,000 yuan.
nal proportions. But nothing can obliterate the tangible benefits the development initiative has brought. In less than six
years, the nascent Belt and Road are already changing development landscapes in multiple places and dime
nsions. Thanks to the initiative, East Africa has seen its first expressway, the Maldives its first cross-sea bridge, Belar
us its own car-manufacturing enterprise, and landlocked Kazakhstan finally has access to the sea.
And while China-Cambodia trade may not look to be in perfect balan
ce at this point, Belt and Road cooperation between the two neighbors is laying a solid fo
undation for the latter’s future progress. Take the Sihanoukville Special Economic Zone for instance. An exem
plary project under the framework of the Belt and Road Initiative, it is expected to host 300 enterprises, create 100,0
00 industrial jobs, and serve as a resident-friendly new community housing 200,000 people.