Beijing announces $3.7 billion in funding

On May 19, at the Summit with Central Asian countries, Chinese President Xi Jinping announced a cooperation plan to help bring countries in this region to a new level of development.

The China-Central Asia Summit took place on May 19 in Xi'an. (Source: Akipress)

Speaking at the Summit held in Xi'an City (China), Mr. Xi Jinping said that Beijing is willing to coordinate development strategies with five Central Asian countries: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, and make joint efforts to promote the modernization of all six countries.

According to the Chinese President, Beijing is willing to help Central Asian countries improve their law enforcement and security capabilities and build up their defense capabilities, and will upgrade bilateral investment agreements with these countries and comprehensively increase the volume of cross-border goods with the region.

China will also encourage Chinese-invested enterprises in Central Asia to create more local jobs, build foreign warehouses in the region, and launch a special railway service to promote cultural tourism with the region.

Calling for the construction of a China-Central Asia natural gas pipeline to be accelerated, Xi called on the two sides to increase oil and gas trade, develop energy cooperation across industrial chains, and step up cooperation in new energy and the peaceful use of nuclear energy.

China has affirmed its support for the construction of an international transport corridor across the Caspian Sea and will step up the construction of transport hubs for cargo ship services between the country and Europe.

At the conference, Beijing announced 26 billion yuan ($3.7 billion) in non-refundable aid to Central Asian countries and developed a plan to reduce poverty through science and technology.

In addition, China expressed its willingness to help Central Asian countries strengthen their defense capabilities and proposed expanding bilateral oil and gas trade.

The Chinese president also urged Central Asian countries to cooperate against external interference and attempts to incite "color revolutions", saying the global community needs a stable Central Asia.

Also at the conference, Mr. Xi Jinping and leaders of Central Asian countries officially announced the establishment of a meeting mechanism between heads of state.

China and Central Asian countries can jointly promote a new model of cooperation and will take turns hosting the China-Central Asia Summit, he said, announcing that the next summit will be held in Kazakhstan in 2025.

Source: https://baoquocte.vn/hoi-nghi-thuong-dinh-trung-quoc-trung-a-bac-kinh-cong-bo-khoan-tai-tro-37-ty-usd-227763.html