China will host the Belt and Road Forum (BRF) for International Cooperation on May 14 and 15. Following are the projects now underway under the Belt and Road Initiative.[Special coverage]
-- China-Belarus Industrial Park
China-Belarus Industrial Park Development Company was established on August 27, 2012 and the ground-breaking ceremony was held in Minsk on June 19, 2014. Occupying an area of 91.5 square kilometers, this industrial park will be the largest one China has built overseas, with the highest concentration of high-tech businesses. It also enjoys favorable policy incentives. Strategically situated, it connects the Eurasian Economic Union countries and the European Union members, offering easy access to international and transcontinental highways and railways.
Focused on advanced manufacturing and services, and attracting international talent and resources, the park is intended to be a new international city, an environmentally friendly, vibrant community that embraces entrepreneurship and innovation, and an ideal place to live.
-- Gwadar Port Free Zone
The free zone will be modeled after the Shekou Industrial Zone in Shenzhen, China, comprising a port, an industrial park, and residential and business areas. The Pakistani government will grant tax exemptions to the zone, together with a land lease on preferential terms.
Once completed, the free zone will significantly boost the development of Gwadar Port, and spur economic growth in Balochistan and the rest of Pakistan.
-- Colombo Port City
Rather than being an inter-governmental project, it relies on public-private partnerships for funding. The Port City will involve a combined floor area of over 5.3 million square meters, with an initial direct investment of 1.4 billion U.S. dollars. It is expected to attract further development investment of 13 billion dollars, and create 83,000 long term jobs.
-- China Railway Express to Europe
The "China Railway Express" service, seen as the "Belt and Road on rail," helps boost connectivity between China and the rest of Eurasia. An interconnected network has begun to replace uncoordinated individual cargo lines. In addition to offering freight transport solutions, it contributes to flows of global investment, resources, technology and skilled personnel, and facilitates global cross-sector collaboration.