China's trade with Belt & Road countries hit 20 tln yuan

Source: Xinhua| 2017-05-10 22:40:54|Editor: An
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BEIJING, May 10 (Xinhua) -- China's trade with Belt and Road countries reached about 20 trillion yuan (2.9 trillion U.S. dollars) during 2014-2016, an official said Wednesday.

"The growth is faster than the global average," said Vice Commerce Minister Qian Keming at a press conference in Beijing.

China has jointly set up 56 overseas economic cooperation zones in 20 Belt and Road countries, covering processing and manufacturing, resource utilization, agriculture, commercial logistics and R&D.

The country has 11 free trade zones (FTZs) in Belt and Road countries, accounting for half of its FTZs with foreign countries, according to Qian.

China will host the Belt and Road Forum for International Cooperation in Beijing on May 14-15.

More than 1,500 delegates, including officials, academics, entrepreneurs, representatives of financial institutions and media organizations from 130 nations, as well as representatives from more than 70 international organizations, will attend.

The Belt and Road Initiative aims to expand links between Asia, Africa and Europe through billions of dollars in infrastructure investment.