Chinese president’s eight steps

Chinese President Xi Jinping announced eight major steps to support high-quality cooperation, in his speech at the opening ceremony of the third Belt and Road Forum on Wednesday. Here are the highlights: Multidimensional network China will build a multidimensional connectivity network, speeding up the development of the China-Europe Railway Express, participate in the trans-Caspian international transportation corridor, and host the China-Europe Railway Express Cooperation Forum. Open economy With its trade in goods and services expected to exceed $32tr and $5tr, respectively, in 2024-28, the country will establish pilot zones, and enter into free trade agreements and investment protection treaties with more countries. Practical cooperation The country will promote both signature projects and “small yet smart” livelihood programmes. Xi noted that the China Development Bank and the Export-Import Bank of China will each set up a $48.75bn financing window.