ICBC VP Zhang Hongli: Belt and Road Initiative is a philosophy of collaboration

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Europe

By CGTN’s Tian Wei, Ding Dai

Some of the Chinese companies going global are now led by people who have profound knowledge and experience about both worlds -- developing countries and developed economies.

Zhang Hongli, now senior executive vice-president of the Industrial and Commercial Bank of China (ICBC), the largest Chinese commercial bank in the world, is one of them.

Since leaving his previous job as an international investment banker, he has been leading ICBC as it goes global, establishing branches worldwide and supporting clients, particularly Chinese companies all over the world.

CGTN Photo

Speaking with CGTN's Tian Wei at ICBC headquarters in Beijing, Zhang shared his understanding about the overall policy of the Belt and Road Initiative, which he sees as a philosophy of collaboration.

“When we do globalization, we need collaboration. We need to work together. We need more inclusive growth down the road,” said Zhang.

Asked about concerns that China is just throwing money around to gain respect, Zhang said there was actually nothing wrong with this from a business perspective.

“Is China going to gain influence along the road? Of course! I think influence comes with capability, with desire and with the position you are in. If I have the largest shareholder, I want a controlling influence. That’s how it works from a business perspective. But if anyone wants to put political clout into it there is nothing wrong with it,” he said.

CGTN Photo

Initiated in 2013, the Belt and Road Initiative is aiming to strengthen infrastructure and connectivity from Asia to Europe and Africa via a wide network of projects. Chinese businesses invested more than 18 billion US dollars in establishing trade zones across 20 Belt and Road countries by the end of 2016.

ICBC, the world’s largest bank by assets, is one of the frontline investors and is deeply involved in providing easy financing and smoothing trade along the routes of the Belt and Road Initiative.