First News
Volume:7, Number:46
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Business & Finance 2

China to Invest USD800 Billion in Belt and Road in Next Five Year

Chinese investments related to the Belt and Road initiative have totaled to USD60 billion since 2013 and Beijing plans to invest USD600 billion to USD800 billion in the next five years. The National Development and Reform Commission vice chairman Ning Jizhe was quoted by the state media ahead of the two-day Belt and Road Forum (BRF) as saying that Chinese investments are expected to touch USD120 billion to USD130 billion a year over the next five years. On financing, Ning said China Development Bank and the Export-Import Bank of China have extended USD110 billion in loans for Belt and Road projects by the end of 2016 and China has signed currency swap deals with countries along the Belt and Road routes totaling 900 billion yuan. Ning said from 2013 to 2016 Chinese companies invested over USD60 billion in the countries and regions, creating more than 180,000 local jobs, and paid USD1.1 billion in tax to local governments.

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