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Policy support system for the One Belt and One Road Initiative (No 74, 2015)
2015-06-17
By Luo Yuze, Research Department of Foreign Economic Relations of DRC
Research Report No 74, 2015 (Total 4759)
Abstract:
It is of great significance to boost the One Belt and One Road Initiative for China to strengthen international cooperation, maintain a peaceful and stable neighboring environment and promote the comprehensive construction of an open economic system. This initiative has a wide coverage and is related with a lot of factors including sophisticated geopolitics, imbalanced economic development and diversified cultural heritage, indicating that it's complicated and onerous for implementation. Enterprises play a principal role in the construction of the initiative while government should play its part on building policy support system, developing favorable environment and establishing broad platforms so as to render a better service to guide, motivate, support and secure such a drive. The following five functions should be considered in making the policy support system for the One Belt and One Road Initiative: 1. The creation of international environment to avoid both institutional obstacles and economic and commercial cooperation impediments and to build a favorable environment for mutual construction; 2. The State guidance and planning to lead various entities to participate in the construction of such a drive; 3. Macro policy support to ensure outbound investment and Sino-foreign cooperation; 4. The construction of investment platforms and mechanisms to expand fund channels, increase allocation efficiency and guarantee investment returns; 5. A strong supportive service system to ensure the pooling of resources including information, intelligence and talents.
