Beijing to host forty foreign heads at BRI forum from Apr 25

BEIJING, Apr 22: Chinese President Xi Jinping will host nearly 40 heads of state this week at the second Belt and Road forum, report Xinhua and The Straits Times.

The forum is expected to produce more deals for companies and banks.

China on Monday published a report elaborating the progress, contributions and prospects of the Belt and Road Initiative (BRI).

The document, prepared by the office of the leading group for promoting the BRI, was released ahead of the second BRI Forum for International Cooperation to be held from April 25 to 27 in Beijing.

The strong showing is a testament to the project's standing despite its multiple criticisms, said Chinese Foreign Minister Wang Yi on Friday.

All 10 Asean leaders will take part in a high-level meeting at Beijing's National Convention Centre and a leaders' roundtable at Yanqi Lake in the suburb of Huairou.

The other 27 heads of state will include Russian President Vladimir Putin; Austrian Chancellor Sebastian Kurz; Greek Prime Minister Alexis Tsipras; Hungarian Prime Minister Viktor Orbán; Italian Prime Minister Giuseppe Conte and Pakistani Prime Minister Imran Khan.

"We must let the facts speak for themselves," said Mr Wang when asked about the controversies that have surrounded China's signature diplomatic and economic campaign. It has, among other things, been accused of saddling developing countries with unsustainable debt.

"Nearly 40 foreign leaders and over 150 representatives are coming. They, through their actions, have already given the Belt and Road Initiative a vote of confidence," he told reporters at a news conference at the foreign ministry.

Based on figures released by China's top economic planner last week, the total trade volume between China and Belt and Road participating countries exceeded US$6 trillion (S$8.1 trillion) from 2013 to 2018, while China has so far chalked up US$80 billion in direct foreign investment in these countries.

China also says it has inked 173 deals with 125 countries and 29 international organisations.

Mr Wang said close to 5,000 participants from over 150 countries and 90 international organisations such as the United Nations, World Bank and International Monetary Fund will be at the meeting, which trumps the first forum held two years ago.

This year's event from April 25 to 27 will feature 12 thematic sub-forums and, for the first time, a CEO conference involving 800 business leaders.

The Belt and Road Initiative is an initiative for peaceful development and economic cooperation, rather than a geopolitical or military alliance.

The BRI has turned ideas into actions and vision into reality, and itself into a public product widely welcomed by the international community.

Since 2013, the BRI, with policy coordination, connectivity of infrastructure, unimpeded trade, financial integration and closer people-to-people ties as its main goals, has advanced in solid steps.