The Belt and Road Forum for International Cooperation (BRF) was held in Beijing from 14 to 15 May 2017. According to China’s Ministry of Foreign Affairs, 29 heads of states and governments attended the highest level of international conference held by China since the major initiative was put forward by President Xi Jinping in 2013. Economic cooperation is expected to be the top priority of this forum. So which areas are likely to achieve breakthroughs?
In our latest PwC analysis on the B&R initiative, Prospects for Future Economic Cooperation between China and Belt and Road Countries, we look at how the B&R initiative is reshaping the future economic cooperation between China and B&R countries.
Here are the major future prospects for economic collaboration between China and B&R countries:
- Signing free trade agreements may be the most effective way for China to expand its trade with B&R countries
- Opening up stock and bond markets for B&R countries will provide more investment opportunities for Chinese business
- Promoting RMB internationalisation in major B&R economies rather than in the developed countries is more likely to be successful
- Domestic preferential policy support will be critical in encouraging Chinese companies to invest more in the B&R countries