Editor's note: The article is part of CGTN's series called "New Chapter of the BRI", in which global economists and eminent academics share their views and insights on the development and opportunity of BRI. Zhang Yu is an Associate Researcher and Director of the International Economic and Trade Research Office, National Academy of Economic Strategy, CASS. The article reflects the author's opinions and not necessarily the views of CGTN.

Global politics and economics are currently undergoing profound changes, and the fluctuations in national competitiveness pose enormous challenges to the traditional multilateral free trade system, which have even triggered an undercurrent of "anti-globalization" to some extent.

Against this backdrop, as an imperative exploration to uphold the multilateral open system, the Belt and Road Initiative (BRI) has progressively evolved into a vital strategic pivot for China's opening-up, leading to many new breakthroughs in China's opening-up pattern.

The BRI has not only stimulated the expansion of trade between China and partner countries, but has also broadened its economic and trade collaborations from developed countries to developing ones. Especially given the stagnated multilateral open system represented by the World Trade Organization (WTO), the BRI has become a vital force in connecting developing economies worldwide willing to remain open, jointly offsetting the adverse effects of anti-globalization and reshaping the multilateral opening-up pattern.

At the same time, the BRI has paved new avenues for trade and investment, both on land and at sea. Land-based trade channels, represented by the China-Laos Railway and the China Railway Express, have not only effectively connected China with countries and regions in Southeast and Central Asia, but also opened the gate for China's landlocked western and central regions, which were previously limited in their capability of engaging in foreign trade activities due to their geographical location constraints.

Furthermore, more advanced "physical connectivity" and "institutional connectivity" are accelerating under the framework of the BRI. In recent years, China has been committed to infrastructure construction in BRI participating countries, including transportation, communication, and energy facilities.

In addition, it has also been promoting standard alignment, mutual recognition, and customs policy integration with these countries, so as to eliminate both physical and institutional trade barriers, thereby fostering favorable external conditions for a multilateral open trade pattern.

What is particularly noteworthy is the concept of mutual benefit proposed by the BRI, which holds the key to addressing the issue of trade protectionism. The root cause of the current prevalence of protectionism lies in the fact that existing openness fails to bring sufficient benefits to participating countries, leading to insufficient motivation for them to actively open up.

In contrast, unlike traditional free trade agreements that come with a package of opening requirements, the BRI adopts a project-centric approach of "breaking up the whole into parts." It flexibly selects relevant cooperation areas based on the actual situations and acceptance levels of different countries, thus minimizing the sudden impact of rapid opening up on partner countries' economies and reducing the resistance encountered during the opening-up process.

At the same time, while promoting economic and trade exchanges, as well as cooperation in the field of humanities, the BRI is also committed to helping partner countries alleviate and eradicate poverty, create jobs, and enhance capacity building.

Additionally, cooperation in these areas is extending into broader fields of technology, society, and humanities, continuously broadening the path of "people-to-people bonds." Ultimately, it provides a sustainable source of endogenous motivation for participating countries to actively embrace openness.