Scholars have predicted significant action in 2015 to advance the “One Belt, One Road” initiative, or Silk Road Economic Belt and 21st Century Maritime Silk Road, citing this year’s government work report delivered at the second plenary meeting of the third session of the 12th National People’s Congress. The report emphasizes “integrating the development of the Silk Road Economic Belt and the 21st Century Maritime Silk Road with the development and opening-up of related regions, and promoting the development of the new Eurasian Continental Bridge as well as major coastal and border ports which serve as hubs for the Belt or the Road.”

“The ‘One Belt, One Road’ initiative focuses on establishing a new type of major-country relationship, comprehensively advancing China’s relations with neighboring countries, building a community with a shared future and participating in international cooperation. These will be translated into actions in 2015 as a series of grand projects will be launched,” said Zhang Yunling, a member of the National Committee of the Chinese People’s Political Consultative Conference.
 

Zhang stressed that relevant cooperative projects for the implementation of the Belt and Road initiatives will be pushed forward through consultation rather than negotiation.

In February 2015, the China Two-Way Investment Development Report 2014 was released as the first of its kind. The report revealed China’s intention of selecting sites along the Belt and the Road and negotiating free-trade agreements (FTA).
 

In this scenario, the China-South Korea FTA was “initialized” in February this year, setting an example for other FTZs along the Belt and Road network.
 

The ‘One Belt, One Road’ initiative is a broad framework shored up by diversified, multi-level agreements, projects and parks.
 

For example, the Silk Road Economic Belt encompasses a number of economic corridors, such as the China-Central Asia-West Asia Economic Corridor, China-Pakistan Economic Corridor and Bangladesh-China-India-Myanmar Economic Corridor. The 21st Century Maritime Silk Road not only involves construction of a port network, but also covers industrial parks along the route, a maritime security cooperative mechanism, and exploitation and protection of marine resources.
 

According to Du Youkang, director of the Center for South Asian Studies at Fudan University, the China-Pakistan Economic Corridor, among others, has made the most solid progress and will provide valuable references for the implementation of the Belt and Road strategy in 2015.

 

 

Zhang Junrong is a reporter at the Chinese Social Sciences Today.