Xi: No hidden agendas

PRESIDENT of China Xi Jinping says China’s Belt and Road Initiative (BRI) is not designed to serve any hidden geopolitical agenda, nor target against anyone, or does it exclude anyone.
He told the Chief Executive Officers’ Summit on board the cruise liner Pacific Explorer in Port Moresby on Saturday the initiative had won worldwide endorsement in the past five years.
China had signed the initiative with more than 140 countries and international organisations. It aims to enhance connectivity among countries and regions.
“The BRI is an open platform for cooperation. It is guided by the principle of consultation and collaboration for shared benefits,” he said.
“It is not an exclusive club that is closed to non-members, nor is it a trap as some people have labelled it.
“Rather, the BRI is a transparent initiative with which China shares opportunities and pursues common development with the rest of the world.
Xi said China would make greater contributions “to the common prosperity of the world”.
This year, China has announced new measures to further “open up”, which includes creating a more attractive investment and business environment, significantly lowering the tariffs for 1449 consumer goods and 1585 industrial goods.
It also further cut the tariffs for automobiles and auto parts to 13.8 per cent and 6 per cent respectively and eliminated tariffs on imported anti-cancer drugs.
“With a new round of tariff cuts coming into effect on November the 1st, China’s overall tariff rates have been reduced to 7.5 per cent.
“This is beyond the commitment China made upon its accession to the World Trade Organisation.
“It is also lower than the majority of developing countries.”