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Belt and Road: Weekly Summary

🍁 Weekly Summary

Source: Belt and Road Advisory

Politics
 
📌China signs 37 MoUs with African countries: China signed MoUs with 37 African countries and the African Union on jointly developing the Belt and Road. This has to be seen as a failure as China wanted all 53 members to sign at FOCAC 
 
📌BRI group in the UK set up: New BRI Parliamentary Group created in the UK. The group was established by the UK's All-Party Parliamentary Group to help British parliamentarians to better understand the Belt and Road and China-Pakistan Economic Corridor. 

📌UAE seeking to become BRI financing hub: A memorandum of understanding (MoU) was signed to promote the development of financial centers in the United Arab Emirates (UAE) and China, a statement by the UAE side said Saturday. 
 
Economy
 
📌Chinese Ministry of Foreign Affairs Data: More than 2,000 Chinese enterprises have invested in Latin America, accumulatively creating more than 1.8 million jobs  
 
📌Premier Li focuses on business environment issues: Efforts should be made to improve the business environment, reduce institutional transaction costs and keep business confidence stable, Premier Li said during an inspection tour Tuesday at the State Administration for Market Regulation (SAMR). 
 
📌Trade with BRI countries continues to increase: China's trade with countries along the Belt and Road totaled 5.31 trillion yuan (about 776.1 billion U.S. dollars) in the first eight months of the year, up 12 percent on 2017.
 
📌Khorgos dry port reports higher trade: Khorgos reported a volume of 17.43 billion yuan in trade with member states of the Eurasian Economic Union, up 64.6 percent year on year. Eurasian connectivity taking hold. 
 
Projects
 
📌Build the world a road: To commemorate the fifth anniversary of BRI, People’s Daily has produced a song titled: “I’d like to build the world a road”, adapted from the classic 1971 Coca-Cola advertisement “I’d Like to Buy the World a Coke
 
📌Nepal to utilize China’s ports: China and Nepal reached an agreement that gives Nepal access to China's sea and land ports for trading with third countries.
 
📌Liaoning seeks to benefit from connectivity with Korean peninsula: As part of its contribution to the Belt and Road, the province of Liaoning is proposing a rail link from the city of Dandong to the North Korean capital Pyongyang and then on to Seoul and Busan in the South.
 
📌New BRI infrastructure bonds: China Construction Bank Corporation (CCB)'s Singapore Branch issued 300 million Singapore dollars (SDG) of Belt and Road Initiative Infrastructure bonds Thursday. Chinese gov’t realizes for BRI to succeed over medium-term needs to tap into foreign and private capital.

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