Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid and credit "hovering around $80 billion a year" to low and middle-income nations. The United States, in contrast, has provided $60 billion to such countries a year. "Beijing is navigating...
Hong Kong’s Belt and Road summit expands focus to Middle East
Dubai, UAE - The annual Belt and Road Summit being held on September 13 and 14 in Hong Kong will feature a dedicated session focused on the Middle East, South China Morning Post reported on Thursday. The Belt and Road Initiative, China's ambitious plan to boost international trade and connectivity,...
China’s investment rises 23% in BRI countries in Jan-July 2023
BEIJING, CHINA - Between January and July 2023, Chinese enterprises made non-financial direct investments totaling US$13.69 billion (RMB95.34 billion) in Belt and Road countries, demonstrating a surge of 23.2 percent compared to the previous year. This growth amounts to approximately US$13.69 billion (a year-on-year increase of 15.3 percent), constituting nearly...
China cements influence in Iraq through oil, infrastructure deals
After decades of conflict, Iraq is in need of foreign investment, and specifically investment in energy sector infrastructure. China, with its soaring energy needs, has stepped in to fill that gap, and is expanding its presence in Iraq under a 2019 oil for construction deal.
UAE reelected as vice president of Belt and Road Tax Forum
The United Arab Emirates (UAE) has been elected as vice president of the Belt and Road Initiative Tax Administration Cooperation Forum (BRITACOF) for the second time in a row.
