Latest news with #GlobalDevelopmentInitiative
CNBC
4 days ago
- Business
- CNBC
China urges Beijing-backed development bank to focus more on Belt and Road Initiative
BEIJING — Chinese Premier Li Qiang on Thursday urged the Asian Infrastructure Investment Bank to increase its support for Beijing's Belt and Road Initiative. "I hope that the AIIB will stay committed to open regionalism and persevere in promoting connection and communication among Asian countries and countries across the world," Li said in Mandarin through an official English translation. "It is important to strengthen the synergy between the bank and the Belt and Road Initiative and Global Development Initiative," Li said, referring to two Beijing-led programs. His speech at the opening ceremony of the bank's 10th annual meeting comes amid a pullback of U.S. support for Western-led institutions such as the World Bank and the International Monetary Fund, which U.S. President Donald Trump claims unfairly benefit other nations. Premier Li's "comments signal China's ongoing attempts to capitalize on the chaos caused by Trump's trade and economic policies," said Stephen Olson, a visiting senior fellow at the Institute of Southeast Asian Studies and a former U.S. trade negotiator. "China is also very aware that the U.S. is trying to pressure countries to tilt away from China (as we saw in the U.K. trade deal) and this is part of its strategy to counteract those efforts," Olson said in an email. Under Chinese President Xi Jinping, now in his third term, China launched a regional development program called the Belt and Road Initiative in 2013. The program is widely viewed as Beijing's effort to boost its global influence through the development of rail, sea and other transportation routes connecting Asia to Europe and Africa. Critics argue that China's massive infrastructure project has forced developing nations to take on high debt while benefiting Chinese companies, often state-owned entities. Xi subsequently announced a broader "Global Development Initiative" in 2021 to promote Beijing-led efforts around poverty alleviation, public health and food security, aligned with the UN's 2030 Sustainable Development Goals. The AIIB this week announced that Zou Jiayi, a former Chinese vice finance minister, will become its next president starting in January. Zou also previously represented China as an alternate governor at the World Bank. The former anti-corruption official is also a member of the ruling Chinese Communist Party's Central Committee, the third-highest circle of power in the country. AIIB's current president, Jin Liqun, has served two five-year terms since the bank's founding and is also a former Chinese vice finance minister. Indonesia's finance minister, Sri Mulyani Indrawati, said in a closing speech at the same event on Thursday that the Southeast Asian nation, which is a founding member of AIIB, has worked with the bank on 14 projects totaling over $5.1 billion. "Indonesia is not only generating operating revenue for AIIB, but we [are] also providing enormous experience as well as strong participation," Indrawati said. "AIIB is no longer just an emerging bank. It is now a global force for development." While the U.S. isn't a member of AIIB, the U.K., France, Germany are listed among the 110 members of the China-led bank, as are Russia, Israel, Singapore and Vietnam. China has the largest stake in AIIB, holding a 26.5% voting share. The AIIB provides loans to developing countries, largely for infrastructure projects such as water supply and transportation. The Beijing-headquartered AIIB said it approved $8.4 billion in financing last year, bringing the total to over $60 billion since its launch in 2016. On Wednesday, Li urged global business leaders and senior government representatives to collaborate and avoid turning trade into a political or security issue. Engaging in the international economy is a way of "reshaping the rules and order," he said, via an official English translation. He was speaking at the World Economic Forum's annual China conference, dubbed "Summer Davos," held this year in Tianjin. Li subsequently met with business executives, including Founder and Chairman Richard Liu. China's Minister of Commerce Wang Wentao and Zheng Shanjie, head of the country's economic planning agency, the National Development and Reform Commission, attended Li's speech and meeting with businesses on Wednesday, according to state media.
Yahoo
23-06-2025
- Business
- Yahoo
Indonesian DPR Immerses in Shenzhen's Cutting-Edge Tech during SZMG's "Telling China's Story" Event, Calls for Deeper China-Indonesia Cooperation.
SHENZHEN, China, June 23, 2025 /PRNewswire/ -- This year marks the 75th anniversary of the establishment of diplomatic relations between China and Indonesia. Telling China's Story, a program by the International Communication Center of Shenzhen Media Group, launched a series of 12 'Gen Z' dialogue salons Let's Talk under the theme of The Global Development Initiative at Universitas Pendidikan Indonesia (UPI) in Bandung on June. The scholars and officials from China and Indonesia attended the events, exchanging with over 1,500 Indonesian students face-to-face. H Syaiful Huda, a member of the House of Representatives of Indonesia, also took part in the Telling China's Story salon, where he exchanged views with students on China-Indonesia cooperation. He was pleased to participate in the dialogue. He emphasized that in today's globalized world, no country can isolate itself from others. Indonesia, he said, has always embraced an open approach to international cooperation, its partnership with China on high-speed railway is a vivid example of this vision. Erwin Affandi, Vice Mayor of Bandung attended the event. He engaged in a dialogue with Zhang Hongshuo, a host from SZMG discussing the friendship and future cooperation between Shenzhen and Bandung. The official website of Bandung promptly reported on Telling China's Story salon. Additionally, the event set a Tech Zone, introducing a set of cutting-edge innovations, including translation earbuds, exoskeleton suits, panoramic cameras drew enthusiastic crowds, every tech station packed with eager visitors. Nearly dozen Indonesian tech influencers checked in at these cutting-edge tech spots. They were amazed by the showcased "Cutting-edge Technology", sharing short videos on social media highlighting their experience at Telling China's Story. Many of these influencers are already familiar with Shenzhen's global reputation. Speaking about Shenzhen, Indonesian Tech Vlogger Anggialgifary said, "Having so many advanced products, Shenzhen is a superstar in China's tech world. To me, it's the tech capital of China." View original content to download multimedia: SOURCE Shenzhen Media Group Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Star
22-06-2025
- Business
- The Star
Xinhua think tank report offers forward-looking insights on China-Central Asia cooperation
ASTANA, June 22 (Xinhua) -- China-Central Asia cooperation in the new era is set to drive regional development, enhance well-being, and offer a model for building a community with a shared future for humanity, said a Xinhua think tank report released on Sunday. The three major China-proposed global initiatives should guide regional cooperation, said the report titled "Championing the China-Central Asia Spirit: Achievements, Opportunities and Prospects for Regional Cooperation," released by Xinhua Institute, a think tank affiliated with Xinhua News Agency. Those initiatives are the Global Development Initiative, the Global Security Initiative and the Global Civilization Initiative. The two sides have forged a China-Central Asia Spirit of "mutual respect, mutual trust, mutual benefit, and mutual assistance for the joint pursuit of modernization through high-quality development." The report said that future cooperation should uphold the principles of mutual support, common development, universal security and everlasting friendship. China and Central Asian countries should work to strengthen the foundation of a regional community with a shared future, usher in a new chapter of prosperity, build a shared shield for security and stability, and foster deeper people-to-people ties, according to the report. With a shared commitment to serving the interests of their peoples and building a brighter future, China and Central Asia have made the historic choice to create an even closer China-Central Asian community with a shared future, demonstrating their determination to elevate cooperation to a higher level, with higher standards and greater quality, it said.
Yahoo
13-06-2025
- Business
- Yahoo
Multipolarity and Globalization: A Shared Answer – International Media Discuss the Emerging Global Landscape
BEIJING, June 12, 2025 (GLOBE NEWSWIRE) -- The eighth 'International Editors-in-Chief Roundtable,' hosted by Global Times and Global Times Online ( brought together media leaders from China, Russia, Pakistan, Canada, Nepal, Syria, and Ghana to explore global trends. Amid ongoing global shifts, participants highlighted the value of inclusive globalization and diversified Asif Noor, Editor-in-Chief of the Institute of Peace and Diplomatic Studies, Pakistan, said countries are adapting engagement models. Bai Long, Deputy Editor-in-Chief of the Global Times (China), stressed the importance of win-win development in a multipolar world. Liu Yonggang, President and Editor-in-Chief of The Paper, noted that 2024 marks a turning point in global economic restructuring, with developing countries gaining influence at COP28 and WTO talks. Liu Hong, Deputy Editor-in-Chief of XinhuaNet, pointed to the Global Development Initiative and RCEP as key examples of inclusive multilateralism. Bai Long highlighted the Belt and Road Initiative's infrastructure impact. Rituraj Subedi, Deputy Executive Editor of The Rising Nepal, said globalization is irreversible, and that cooperation and multilateralism are vital to fair Contact Person: Pang Zhiqin Email:pangzhiqin@ Website: Telephone: 0086-010-65361101 City: Beijing, China A photo accompanying this announcement is available at
Yahoo
13-06-2025
- Business
- Yahoo
Multipolarity and Globalization: A Shared Answer – International Media Discuss the Emerging Global Landscape
BEIJING, June 12, 2025 (GLOBE NEWSWIRE) -- The eighth 'International Editors-in-Chief Roundtable,' hosted by Global Times and Global Times Online ( brought together media leaders from China, Russia, Pakistan, Canada, Nepal, Syria, and Ghana to explore global trends. Amid ongoing global shifts, participants highlighted the value of inclusive globalization and diversified Asif Noor, Editor-in-Chief of the Institute of Peace and Diplomatic Studies, Pakistan, said countries are adapting engagement models. Bai Long, Deputy Editor-in-Chief of the Global Times (China), stressed the importance of win-win development in a multipolar world. Liu Yonggang, President and Editor-in-Chief of The Paper, noted that 2024 marks a turning point in global economic restructuring, with developing countries gaining influence at COP28 and WTO talks. Liu Hong, Deputy Editor-in-Chief of XinhuaNet, pointed to the Global Development Initiative and RCEP as key examples of inclusive multilateralism. Bai Long highlighted the Belt and Road Initiative's infrastructure impact. Rituraj Subedi, Deputy Executive Editor of The Rising Nepal, said globalization is irreversible, and that cooperation and multilateralism are vital to fair Contact Person: Pang Zhiqin Email:pangzhiqin@ Website: Telephone: 0086-010-65361101 City: Beijing, China A photo accompanying this announcement is available at
