Editor's note: Tang Jing is a research fellow at the Research Center of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era under the Chinese Academy of Social Sciences. The article reflects the author's opinions and not necessarily the views of CGTN. It has been translated from Chinese and edited for brevity and clarity.

The third Belt and Road Forum for International Cooperation was held in Beijing from October 17-18, 2023. The event witnessed the remarkable achievements of China's decade-long joint construction initiative with various parts of the world. 

Over the past decade, the Belt and Road Initiative (BRI), centered on the "five-pronged approach," has transitioned from vision to practical action, opening up new horizons and bringing new hope to the global landscape of open and integrated development.

Policy coordination

In terms of policy connectivity, broad consensus has been reached and joint efforts have been made in the past decade.

China and Belt and Road partner countries have established multi-level, multi-party and multi-platform regular communication mechanisms in areas such as development strategy planning, economic trade policies, and technical rules and standards. 

To date, China has signed more than 230 cooperation documents related to the BRI with over 150 countries and more than 30 international organizations.

Connectivity of infrastructure

Regarding infrastructure connectivity, the past 10 years have witnessed substantial efforts in construction and the pursuit of win-win outcomes.

At present, a comprehensive and intricate network of interconnectivity, encompassing "six corridors, six routes and multiple countries and ports," has taken shape. Projects like the China-Europe Railway Express, the New International Land-Sea Trade Corridor, and the Zhengzhou-Luxembourg "Air Silk Road" have experienced significant growth. 

By the end of June 2023, China-Europe Railway Express had completed approximately 74,000 train journeys, transporting nearly 7 million standard containers with more than 50,000 types of goods in over 53 categories, including vehicles, machinery and equipment, and electronic products. The total value exceeded $300 billion.

Unimpeded trade

In terms of trade connectivity, the past 10 years have witnessed expanded cooperation and mutual prosperity.

China and partner countries have continuously strengthened collaboration in trade and investment liberalization and facilitation, resulting in more balanced, equitable, and sustainable economic and trade partnerships. From 2013 to 2022, the cumulative total of imports and exports between China and partner countries exceeded $19.1 trillion, with an average annual growth rate of 6.4 percent. Bilateral investments with these countries also surpassed $380 billion.

Financial integration

For financial connectivity, the past 10 years have been characterized by innovative services dedicated to development.

Over the past decade, the financial service system for the BRI has been continually improved, initially forming a new pattern where diverse cooperation mechanisms coordinate and service provision advances collaboratively.

At present, as a crucial platform for financial investment and financing for the BRI, the Asian Infrastructure Investment Bank (AIIB) has expanded its membership to 106 countries. As of the end of June 2023, the AIIB had approved 227 investment projects with a total investment of $43.6 billion.

Closer people-to-people ties

In terms of people-to-people connectivity, the past 10 years have seen enhanced exchanges to promote integration.

China and partner countries have extensively engaged in diverse forms of cultural exchanges and cooperation in many fields, fostering mutual learning among various Belt and Road partner countries and promoting cultural integration and innovation. To date, China has signed cultural and tourism cooperation agreements with 144 partner countries.

More importantly, the BRI emphasizes poverty eradication, job creation and improving livelihoods. Over the past 10 years, the fruits of cooperation have benefitted people in various countries, attracting investment worth nearly a trillion U.S. dollars and helping 40 million people escape poverty.

The first decade of the BRI has been a decade of vigorous development. The next decade of promising progress has already begun. 

Guided by the "eight major steps" proposed at the third Belt and Road Forum for International Cooperation, China will work with all partner countries to embark on a new stage of high-quality development through deeper cooperation, concrete actions and more robust measures.