Belt and Road Initiative, launched by China with the consultation of partner countries in 2013, remains significant system in providing trade, economic and cooperation framework globally. Among the most relevant dynamics specified in the recent years, it is possible to note the increase of trade relations between China and BRI partner countries. Trade in goods between China and BRI countries increased to 22.1 trillion yuan ($3.07 trillion) in 2024, which is a major development to the BRI. This positive trend substantiates outcome of the fact that BRI countries are gaining the benefits to enhance their development with the help of integration with China to became one of the significant trade partners of global stage or level.
The evidence for the efficiency of the BRI comes from the enhancing trade volume between China and BRI countries in 2024. China’s import from BRI countries accounts for nearly 54 percent of the total import of the country, which shows that benefiting from the large and growing market, China has become a vital source of development. The BRI has brought into development a strong foundation for promoting necessary international relations in a way that contributes to enhanced merchandise trade and thus, sustainable development of China and its partner countries. China has been improving its position in BRI through increased cooperation with BRI countries while at the same time improving other countries infrastructure, industrial potential, and technology.
The use of active trade in the promotion of the BRI is not only a function of economic development. The initiative is preparing BRI countries to be significant actor in the international system by providing them with what they need in terms of assistance, prospects and technologies to improve their economies. This working together approach is central to China’s interconnectivity-led vision for its external commerce, which ranges from development to infrastructure with a mission of improving on connectivity globally.
The trade dynamics are not one way, instead they are beneficial to both China and its BRI partners and have boosted the growth of world trade. The breakdown of exports from China to BRI countries in 2024 include consumer goods, industrial and trading goods inclusive of equipment and component necessary for industrial development in BRI countries. China supplies various products and equipment for numerous fields which enables BRI countries to equip their industries, develop and upgrade their manufacturing chains as well as support their major sectors including construction, electronics, and power.
However, the BRI has spread its activities and concerns into more specific realms of economic interaction, such as the green economy, the digital economy, and the blue economy. It reflects the opportunities of several emerging sectors that have a potential for sustainable and continuous growth, environmental industries, high technology industries, industries to support sustainable maritime utilization of resources. The Chinese focus in these areas has greatly enhanced the BRI’s effects on the economic development of the relatively less developed BRI nations thus endowing the nations with the expertise, facilities, and the distinct capital to dare into these new frontiers.
Consequently, many BRI countries have reported the following social/economic effects, boosted industrial production, improved trade integration, and sped up rate of modernisation. The BRI is an enabler for countries to up their stakes in international trade and investment so that they are able to generate new employment and enhance their position in the international market.
According to the development in 2024, it exposes that China has not only actively deepened the economic and trade cooperation with BRI countries but also gained positive effects. Bilateral investment with these countries continues to expand and China’s non-financial direct investment in BRI countries amounted to 214.66 billion yuan in the first eleven months of 2024. This rise in Chinese investment demonstrates the fact that China is keen on developing sustainable strategic relations anchored on economic interdependence. Focusing on the flows of investments, they have also been supported by the enhanced investments in China. BRI countries invested 99.87 billion yuan in China, which helps to strengthen connections of the global economy.
China has also expanded infrastructural and industrial facilities of many countries through investment and trade in the frame work of BRI. Among these areas, those related to the renewable energy, technologies, and logistics have reported the most important results. Besides providing financial support, the Chinese authorities have provided the BRI countries with necessary technical assistance which helped the countries to achieve the goals of their modernization and ensure their steadiness of the further development.
Moreover, another evidence is the 36 investment cooperation agreements between China and BRI countries signed in 2024. Each time BRI countries advance themselves in these new growing industries, they improve their affinity in the international market as well as advance China’s comprehensive strategy of world technological and environmental domination.
Second, sustainable development is among the predominant values of the BRI. The level of China’s assistance for BRI countries to achieve their sustainable development objectives in 2024 was provided by 700 projects of assistance in the investment and construction of infrastructure, support in education and skill development, healthcare and IT facilities. Such projects contribute to the socio-economic improvement of BRI countries and these improvements foster more improvement of infrastructure and social amenities to spur growth in BRI countries hence improving investment and trade feedback.
Through implementation of the sustainable development through measures such as the green economy, China and all other participant countries in the BRI are all on the right track in achieving the environmental agenda. Some of the areas of interest include green energy projects, clean and sustainable infrastructure as well as clean industrial practices are all cardinal to the vision of the future that China wants for BRI countries plus by so doing, it is assisting those nations in shifting towards the green economy. This emphasis on sustainability also reflects environmental protection norms in different parts of the world to prepare the BRI countries to lead in the protection and fostering of sustainable development.
The revealed trade performance of China and BRI partners in 2024 in above table explains the empirically confirmed success and role of BRI in international trade and economic system. Through promoting trades by developing transportation and cooperation, investing in upgrade infrastructure and industrial development, the BRI contributes not only to deepening economic cooperation between China and related countries but also to enhancing the development of these countries.
By actively participating and investing in the BRI for global trade, China is creating favourable conditions for the advancement of cooperation in trade and economic relations in the enhancement of mutual development between China and other countries in the world.
The writer is a media fellow of China International Press and Communication Centre and may be connected at [email protected].
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