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Nepal, China sign framework agreement on One Belt, One Road

China will seek to build on its hosting of the G20 Summit in Hangzhou in September 2016, its "One-Belt, One-Road" initiative, and progress on launching the Asia infrastructure investment Bank to increase its global presence on worldwide economic issues, he told the lawmakers.

Proposed in 2013 by President Xi Jinping to promote a vision of expanding links between Asia, Africa and Europe underpinned by billions of dollars in infrastructure investment, the project is broad on ambition but still short on specifics. Chinese investment could reach up to $130 billion (£101.1 billion) annually over the next five years.

China has signed local currency swap agreements with 21 countries along the Belt and Road initiative, he added, and six countries have received investment quotas to participate in the Renminbi Qualified Foreign Institutional Investor (RQFII) programme.

"You reporters should focus on the theme of developing together, not what we (China) do with certain countries, because that could make other countries uncomfortable", said the official from the eastern province of Fujian.

On May 13th (Saturday), leaders from various countries across Asia and Europe (including North Korea) will arrive in Beijing for the much-anticipated Belt and Road Forum where they will discuss China's grand plans of establishing a new Silk Road of highways and high-speed trains through the "One Belt, One Road" initiative. China has also rejected suggestions that the new Silk Road is about Beijing trying to dominate the world and mould it to its liking, saying it is good for all and anyone can join.

But with a confusing name, that officially refers to the Silk Road Economic Belt and the 21st-century Maritime Silk Road, added to myriad economic and security risks, clouds hang over the plan.

China's cargo trains have attracted European countries along the Belt and Road. "Anyone can join it". He explains that "any country can join, anywhere", adding that the USA hasn't joined the initiative. Erdoğan will represent Turkey at the summit before making an address to attending leaders at a round-table meeting on the sidelines of the conference.

The surprise attendance marks a major shift in USA policy towards Chinese President Xi Jinping's flagship initiative, which had been viewed as competing with the Obama administration's now defunct Trans-Pacific Partnership. Since then, he has used it to help portray China as an open economy, distinct from a rising wave of global protectionism.

In the first episode, Nilsson introduces the big-time Belt and Road Forum, scheduled to be held in Beijing next week, telling his daughter that the OBOR is about more than just "moving stuff around".

"In boosting the stream of development and transformation, I am confident the Digital Free Trade Zone, which is projected to generate 60,000 job opportunities, will become the first digital hub outside China", he said.



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