Trade in the past five years between China and countries participating in the Belt and Road Initiative (BRI) has been worth $5 trillion, according to global accountancy firm Ernst and Young (EY).
This has been largely attributed to investment from Chinese state-run banks and financial institutions, which the report says, amounted to more than US$200 billion since the BRI was launched in 2013.
‘Shared growth and collaboration over the five-years on the Belt and Road: is China building a better world?’ states that by August 2018, China had established 82 overseas economic and trade zones along the BRI, at a cost of approximately $28.9 billion since the BRI was launched in 2013.
These include 118 cooperation documents with 103 countries and international organisations, as well as 130 bilateral and regional transport agreements in the areas of shipping, railway, highway, aviation and postal services. Click here to read more.