At a forum organised by the IMF and the World Bank in Bali, Indonesia, China’s Vice Minister of Finance, Ms. Zou Jiayi, reassured the international community about China’s commitment to solve possible debt issues.
The New Silk Road Project is now completed. This summer, Charles Stevens and his fellows drove up to China on the new Silk Roads to better understand the Belt and Road Initiative.
“Belt and Road Initiative” infrastructure development and construction projects have great impact in the poorest rural areas, according to AidData.
On 21 August 2018, the newly elected Prime Minister Mohamad Mahathir announced the cancellation of three BRI projects in Malaysia, including the “East Coast Rail Link” (ECRL) and two pipelines. But Malaysia is still member of the BRI.
In September 2018, a Sino-Japanese committee on public and private investment along the new Silk Roads might be held in Beijing.
US Secretary of State Mike Pompeo announced on July 30, 2018, at the Indo-Pacific Business Forum the upcoming launch of an infrastructure development plan for Asia.
Chinese Premier Li Keqiang met the leaders of the European Union in Beijing for the annual EU-China summit on July 16, 2018.
Li Keqiang participated in the 7th 16 + 1 Framework Heads of State Summit held in Sofia, Bulgaria. The 16 + 1 mechanism brings together China and sixteen states of Central and Eastern Europe and aims to strengthen relations between the two regions.
China and Myanmar continue negotiating on the construction of Kyaukpyu Port in Rakhine State. Kyaukpyu is expected to become a major economic center on the Bay of Bengal through the construction of a deep-water port and the opening of a special economic zone.
On June 8, 2018, a round table held in Kyiv, Ukraine, was dedicated to the “Belt and Road Initiative”.
This event, organized by the Ukrainian Institute for the Future, brought together about thirty experts on the issue of Sino-Ukrainian exchanges.