Skip to main content

China sets up agency to focus on foreign aid, Belt and Road

China sets up agency to focus on foreign aid, Belt and Road

Atul Aneja

BEIJING, MARCH 15, 2018 00:00 IST

UPDATED: MARCH 15, 2018 03:37 IST

China is setting up an agency that will channel foreign aid and plan strategic projects related to the Belt and Road Initiative.

The formation of the State International Development Cooperation Agency (SIDCA) is part of a massive institutional revamp to steer China’s ongoing transition, marked by domestic reform and deeper engagement with the rest of the world.

The SIDCA will be answerable to the State Council, China’s Cabinet, led by Prime Minister Li Keqiang. It integrates roles which were earlier fragmented between the Foreign and Commerce Ministries.

Its focus will be to “better serve the country’s global strategy and to build the Belt and Road Initiative”, the State Council said.

Xinhua reported that the new agency “will be responsible for making strategic guidelines, plans and policies on foreign aid”. It will also be involved in making “foreign aid plans and overseeing and evaluating their implementation”, it observed.

Global aid donor

The decision, which is pending final approval during the ongoing session of the National People’s Congress, is in tune with Beijing’s emergence as a global aid donor, nearly at par with the U.S. According to a study by U.S.-based AidData, China pitched $350 billion in foreign aid and other forms of state financing between 2000 and 14. The U.S. overseas aid figures were marginally higher, at $394.6 billion.

Analysts say that the formation of SIDCA suggests China’s increasing reliance on economic and foreign aid as levers to project its international influence.

China is also planning to streamline its domestic financial governance through consolidation of existing multiple agencies.

Lawmakers have set up for approval the formation of a market regulatory administration


Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed.
Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area”
For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number”
Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell you …

The Rise of China-Europe Railways

The Rise of China-Europe RailwaysMarch 6, 2018The Dawn of a New Commercial Era?For over two millennia, technology and politics have shaped trade across the Eurasian supercontinent. The compass and domesticated camels helped the “silk routes” emerge between 200 and 400 CE, and peaceful interactions between the Han and Hellenic empires allowed overland trade to flourish. A major shift occurred in the late fifteenth century, when the invention of large ocean-going vessels and new navigation methods made maritime trade more competitive. Mercantilism and competition among Europe’s colonial powers helped pull commerce to the coastlines. Since then, commerce between Asia and Europe has traveled primarily by sea.1Against this historical backdrop, new railway services between China and Europe have emerged rapidly. Just 10 years ago, regular direct freight services from China to Europe did not exist.2 Today, they connect roughly 35 Chinese…

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میںPlease help the deserving persons...Salary:Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows;Welder: Rs. 1,700 dailyHeavy Duty Driver: Rs. 1,700 dailyMason: Rs. 1,500 dailyHelper: Rs. 850 dailyElectrician: Rs. 1,700 dailySurveyor: Rs. 2,500 dailySecurity Guard: Rs. 1,600 dailyBulldozer operator: Rs. 2,200 dailyConcrete mixer machine operator: Rs. 2,000 dailyRoller operator: Rs. 2,000 dailySteel fixer: Rs. 2,200 dailyIron Shuttering fixer: Rs. 1,800 dailyAccount clerk: Rs. 2,200 dailyCarpenter: Rs. 1,700 dailyLight duty driver: Rs. 1,700 dailyLabour: Rs. 900 dailyPara Engine mechanic: Rs. 1,700 dailyPipe fitter: Rs. 1,700 dailyStorekeeper: Rs. 1,700 dailyOffice boy: Rs. 1,200 dailyExcavator operator: Rs. 2,200 dailyShovel operator: Rs. 2,200 dailyComputer operator: Rs. 2,200 dailySecurity Supervisor: Rs. 2,200 dailyCook for Chinese food: Rs. 2,000 dailyCook…