China Increases Silk Road Investment Fund Working Capital by US$11 Billion

2023-10-25 07:03:19.975000

The Silk Road Investment Fund, a China Government Guidance Fund, has increased its working capital by US$11 billion [4dc809c9]. The fund primarily assists poorer countries with finance required to access minerals and other natural deposits [4dc809c9]. China plans to accelerate the launch of the China-Europe express railway service and support the development of the Trans-Caspian corridor [4dc809c9]. They will also invest in the infrastructure of the maritime and air components of the New Silk Road [4dc809c9]. China aims to increase the volume of its foreign trade to US$32 trillion in goods and up to US$5 trillion in services in the next five years [4dc809c9]. Financial support will be provided through preferential loans from the Exim Bank of China and the China Development Bank [4dc809c9]. The Silk Road Fund will receive an additional 80 billion yuan (US$11 billion) to foster increased investment in countries along the Belt and Road Initiative [4dc809c9]. China also plans to conclude new agreements on free trade and investment and create pilot zones for cooperation in e-commerce [4dc809c9]. Xi Jinping, the President of China, highlighted the development of the green economy and the introduction of green investment principles into the Belt and Road Initiative [4dc809c9]. Other areas for cooperation include scientific, technical, and innovative development [4dc809c9]. The Silk Road Fund is expected to be involved in some of these projects [4dc809c9].

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