China's trade with belt and road countries exceeds $ 5.5 trillion

Total trade in Chinese goods with belt and road countries has exceeded $ 5.5 trillion in the last five years, with an annual growth rate of 1.1 percent, official data showed on Saturday.

According to data from the Ministry of Commerce, China's direct investment in the non-financial sectors of belt and road countries has reached more than $ 80 billion.

The total value of China's trade with belt and road countries in the first nine months of 2018 amounted to 6 trillion yuan (863 billion US dollars), including its trade with the countries. Gulf countries and Arab countries.

According to data from the Ministry of Commerce, this figure corresponds to an annual growth rate of more than 13% and to the total growth of the country's trade during this period of 3.3%.

China's trade with belt and road countries in 2018 accounted for 27.3% of the total value of China's exports and imports.

Chinese imports from belt and road countries increased by 20.9 percent year on year, reaching 2.7 billion yuan ($ 391 billion) in the first three quarters of 2018, while exports Chinese in these countries rose 7.7%, reaching 3.38 billion yuan.

Investments rose sharply during the period as Chinese enterprises increased their non-financial direct investment in these countries by 12.3 percent to $ 10.7 billion.

Under the Road and Road Initiative, China has created 82 Overseas Economic and Trade Cooperation Areas, providing host countries with more than $ 2 billion in tax revenue and 244,000 jobs, according to data from the United States. Department of Commerce.

For the first time in 2013, Chinese President Xi Jinping announced the initiative "one-way and one-way", one of the largest and most important projects in the history of China, which expects China to invest billions of dollars in infrastructure along the Silk Road.

The "Belt and Road" initiative aims to create a network of trade and infrastructure linking Asia to Europe and Africa along the ancient trade routes of the Silk Road.

By July 2018, more than 100 countries and international organizations had signed cooperation documents with China under the Belt and Road initiative, extending the Eurasia initiative to Africa, to the 39 Latin America and the Caribbean and the South Pacific region.