700bn yuan set aside to support Belt and Road projects
President Xi Jinping on Wednesday announced that 700 billion yuan will be deployed to help bankroll Belt and Road projects during his keynote speech at the opening ceremony of the third Belt and Road Forum for International Cooperation. Here are some of the major facts and figures from his address:

780 billion yuanThe president said the China Development Bank and the Export-Import Bank of China will each be setting up a 350-billion-yuan financing window to fund Belt and Road projects on the basis of market and business operation. Another 80 billion yuan will be added to the Silk Road Fund – an investment fund that covers a range of sectors including energy, infrastructure and sustainable development across Belt and Road countries.

US$97.2 billionPresident Xi said US$97.2 billion worth of agreements were completed during the CEO Conference at the start of the Belt and Road Forum. This includes three projects worth more than US$450 million on investment and technical co-operation involving Hong Kong enterprises.

US$37 trillionWith the initiative aimed at breaking down trade barriers, President Xi expects a more open global economy to yield a total worldwide trade in goods worth in excess of US$32 trillion from 2024 to 2028; and trade in services over the same time span to reach US$5 trillion. He said China will remove all restrictions on foreign investment access in the manufacturing sector, and set up pilot zones for Silk Road e-commerce cooperation.

100,000 training spotsAs part of the initiative’s push to promote green development, President Xi said authorities will further cooperation in areas such as green infrastructure, energy and transportation, and exchange expertise in solar power and low-carbon development. This will include the provision of 100,000 training opportunities for partner countries by 2030.

100 joint laboratoriesChina is planning to increase the number of joint laboratories built with other BRI partners to 100 over the next five years, as the nation seeks continued advancement in scientific and technological innovation. President Xi said authorities would also support young scientists from overseas to travel to China to work on short-term programmes.