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Connotations, Economic Impacts and Key Measures of “One Belt and One Road” Strategy
Head of Research Department of Foreign Economic Relations Zhao Jinping
3
Contents
2
Framework and Measures for Promoting "One Belt and One Road" Strategy
3
1
3
Connotations of "One Belt and One Road" Strategy
DRC Research Department of Foreign Economic Relations 部
Overlook on Economic Impacts of "One Belt and One Road" Strategy
China has become a great power in the world
GDP %发达经济体 占全球比重( )
27.5
10.5
6.9
5.4
4.6
3.7
22. 4
6. 5
4. 9
3. 7
3. 4
2. 8
0 10 20 30
US
JPN
GER
FR
UK
ITY
1991
2013
GDP %新兴经济体 占全球比重( )
1.7
2.3
1.7
0
0.6
0.8
0.8
0.2
0
12.3
3
2.5
2.8
1.7
1.1
0.6
0.4
0.2
04812
Chi na
Brazi l
Indi a
Russi a
ROK
Indonesi aSouthAfri caMal aysi a
Vi etnam
1991
2013
DRC Research Department of Foreign Economic Relations
GDP of developed economies in the world’s total (%)
GDP of emerging economies in the world’s total (%)
China issued the Vision and Actions on Jointly Building Silk Road Economic Belt and 21st-Century Maritime Silk Road
Historical inheritance, major power responsibility, opening-up and inclusion, cooperation and win-win, external and internal cultivation, marine and land coordination, east and west orientations, economy and trade first, facility interconnection, role of market-- Connotations of “One Belt and One Road”
The Silk Road region has playing an increasingly important role in the global economy
40. 8
3631. 8
31. 7
51. 2
28. 5
61
0
20
40
60
80
100人口
GDP
外资净流入
出口进口
工业
农业
% of the worl d' stotal
Population
Agriculture
Industry
OutportsImports
Net foreign capital inflow
3
Contents
1
Framework and Measures for Promoting "One Belt and One Road" Strategy3
2
3
Connotations of "One Belt and One Road" Strategy
DRC Research Department of Foreign Economic Relations
Overlook on Economic Impacts of "One Belt and One Road" Strategy
The economic development of the Silk Road region has made more obvious contributions to the global growth
Annual average economic growth rate (%)
World, 2.8
World, 2.6
World, 2.4
World, 2.7
Silk road,3.7
Silk road,6.7
Silk road,4.7
Silk road,5.1
0 2 4 6 8 10
1990—2000
2000—2010
2010—2013
1990—2013
World Silk road
Contribution of Silk Road to global growth rate
(%)
Silk road region,17.8
Silk road region,44.3
Silk road region,41.3
Silk road region,33.7
China, 9
China, 20.7
China, 26.2
China, 17
0 10 20 30 40 50
1990—2000
2000—2010
2010—2013
1990—2013
Silk road region China
DRC Research Department of Foreign Economic Relations
The economic growth of the Silk Road region is highly dependent on cross-border trade and investment growth
Dependence on trade (%)
World, 15.7
World, 19.7
World, 23.9
World, 25.8
World, 25.3
Silk road,17.5
Silk road,32.6
Silk road,33.9
Silk road,35.6
Silk road,34.5
0 10 20 30 40
1990
2000
2010
2011
2012
World Silk road
DRC Research Department of Foreign Economic Relations
Dependence on net foreign capital inflow (%)
World, 1.75
World, 7.96
World, 4.71
World, 5.16
World, 4.23
World, 4.41
Silk road,1.48
Silk road,4.7
Silk road,6.96
Silk road,7.07
Silk road,6.04
Silk road,6.3
0 2 4 6 8 10
1990
2000
2010
2011
2012
2013
World Silk road
Silk Road region is one of the regions enjoying the fastest growth in global trade and cross-border investment
DRC Research Department of Foreign Economic Relations
Annual average growth rate of foreign trade (%)
World, 6.4
World, 9
World, 9.3
World, 7.8
Silk road,11.3
Silk road,14.8
Silk road,13.9
Silk road,13.1
0 5 10 15 20 25
1990—2000
2000—2010
2010—2012
1990—2012
World Silk road
Annual average growth rate of net foreign capital inflow
(%)
World, 21
World, 1.5
World, 2.8
World, 9.7
Silk road,17.4
Silk road,18.9
Silk road,6.2
Silk road,16.5
0 5 10 15 20 25
1990—2000
2000—2010
2010—2013
1990—2013
World Silk road
Regions along “One Belt and One Road” boast huge development space
DRC Research Department of Foreign Economic Relations
Groups by per capita GDP in 2013 (%)
7.7
20.2
90.8
69.4
10.4
1.5
0% 20% 40% 60% 80% 100%
Population
GDP
Above USD 20,000 USD10,000-20,000
Below USD10,000
Average per capita GDP of the groups (USD)
5050
10500
35470
13178
3862
0 5000 10000 15000 20000 25000 30000 35000 40000
AboveUSD20,000
USD10,000-20,000
BelowUSD10,000
Average of SilkRoad region
World average
Countries along the Silk Road are important trade and investment partners of China
19
46
0
10
20
30
40
50
Trade Investment
Annual average growth rate ofChina’s trade with and investmentin Silk Road region in recent 10years(%)
25
16
50
0
10
20
30
40
50
Trade Investment Proj ectcontracti ng
Proportion in China’s total in 2013(%)
经济持续增长的新动力
培育中国跨国企业的重要平台
对中国经济五大影响
1
2
3
4
5
结构调整的助推器结构调整的助推器
能源和资源的安全保障能源和资源的安全保障
互利共赢区域合作网络的桥梁和纽带互利共赢区域合作网络的桥梁和纽带
国务院发展研究中心对外经济研究部 赵晋平
Industries benefiting most from “One Belt and One Road” Initiative
Industries obtaining benefit
Industries related to infrastructure construction
Industries related to resources and energy
Equipment manufacturing
Service industries such as financial and telecommunications industries
Transportation industry
Factors restricting trade and investment cooperation of “One Belt and One Road”
Difficulties and obstacles
Slow progress in regional economic integration
Low proportion of trade investment in the region
Interruption and adverse impacts of non-economic factors
Lagging infrastructure construction
Many obstacles for trade and investment relations
3
Contents
2
Framework and Measures for Promoting "One Belt and One Road" Strategy
3
1
3
Connotations of "One Belt and One Road" Strategy
DRC Research Department of Foreign Economic Relations 部
Overlook on Economic Impacts of "One Belt and One Road" Strategy
Three opportunities for China in “One Belt and One Road” Initiative
Three opportunities
Expand foreign trade
Accelerate “going global” of enterprises
Promote interconnection with neighboring regions
New impetus for sustainable economic growth
Important platform for culturing China’s multinationals
Five major impacts on Chinese economy
1
2
3
4
5
Booster for structural adjustment
Booster for structural adjustment
Security support for energy and resources
Security support for energy and resources
Bridge between mutually beneficial regional cooperation network
Bridge between mutually beneficial regional cooperation network
Research Department of Foreign Economic Relations, DRC of the State Council Zhao Jinping
More convenient
Market-based
Liberalization
• Create a convenient environment for enterprises to conduct cross-border trade
Give play to adjustment role of market, reduce administrative intervention
• Deepen opening-up, raise trade liberalization
Reform in administration policy for “going global” is extremely urgent
DRC Research Department of Foreign Economic Relations
Key measures to promote “One Belt and One Road” Initiative
Make an overall
plan and reasonab
le layout
Accelerate relevant free trade
arrangements
Prepare to establish regional policy financial
institutions
Select large
projects to
promote
infrastructure interconnectio
nKey measures
DRC Research Department of Foreign Economic Relations
Construct an international corridor connecting East, South, West and North China
Establish a new platform for trade and investment cooperation and opening-up
Development focuses of domestic section of “One Belt and One Road”
Development focuses of domestic section of “One Belt and One Road”
DRC Research Department of Foreign Economic Relations
Focuses of domestic section
Build a new model for coordinated development of East, Middle and West China
Boost adjustment of domestic industrial layout
Construct an international corridor connecting East, Middle and West China
22
Pilot Cross-border Development and Opening-up Zone (border opening-up platform)
China (Tianjin) Pilot Free Trade Zone
China (Xinjiang) Pilot Asia-Europe Cooperation Zone (recommended)
China (Fujian) Pilot Free Trade Zone
China (Guangdong) Pilot Free Trade Zone
Hainan International Tourism Island
China (Inland City) Pilot Free Trade Zone (estimated)
China (Shanghai) Pilot Free Trade Zone