BEIJING Wholesale Brook Lopez Jersey , May 14 (Xinhua) -- A senior official of China's central bank said Sunday that the decision to inject capital into the Silk Road Fund stemmed from an enormous funding demand.
The fund has a large reserve of projects in waiting, and the demand for funds will be greater in the future, said Yi Gang, deputy governor of the People's Bank of China.
China will contribute an additional 100 billion yuan (about 14.5 billion U.S. dollars) to the Silk Road Fund, President Xi Jinping said earlier Sunday when he addressed the opening of the Belt and Road Forum for International Cooperation.
"It is very necessary to increase the capital of the Silk Road Fund at the current stage," Yi told Xinhua.
The capital boost will help the fund to take advantage of flexibility and high efficiency, while more funding will also help the fund to play its leveraging role Wholesale Deron Williams Jersey , Yi said.
The capital boost will not change the market-oriented operating principle of the fund, which will get fair returns on its investment while funding Belt and Road construction, Yi said.
Designed to finance the Belt and Road Initiative, the Silk Road Fund was founded in December 2014 and is jointly backed by China's foreign exchange reserves, China Investment Corp., Export-Import Bank of China and China Development Bank.
On the future plans of the fund, Yi said it will facilitate the alignment of the Belt and Road Initiative with the development strategies of countries involved in the initiative.
The fund will continue to champion the concept of green and sustainable development Wholesale Andrew Nicholson Jersey , incorporating social responsibilities such as environmental protection into its feasibility evaluation and risk management system, Yi said.
To provide more funding for Belt and Road cooperation, China will also encourage financial institutions to conduct overseas RMB fund business with an estimated amount of about 300 billion yuan, President Xi said in his speech.
In addition, the CDB and China EximBank will set up special lending schemes worth 250 billion yuan equivalent and 130 billion yuan equivalent respectively to support Belt and Road cooperation on infrastructure, industrial capacity and financing, Xi said.
Financing bottlenecks are a key challenge to realizing connectivity. China has engaged in multiple forms of financial cooperation with countries and organizations involved in the Belt and Road Initiative.
The AIIB has provided 1.7 billion U.S. dollars of loans for nine projects in Belt and Road countries Wholesale Marcus Thornton Jersey , and the Silk Road Fund has made four billion U.S. dollars of investment.
A multi-tiered Belt and Road financial cooperation network has taken initial shape, President Xi said.
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Chinese President Xi Jinping and his wife Peng Liyuan arrive in Moscow, Russia, July 3 Wholesale KJ McDaniels Jersey , 2017. Xi embarks on a state visit to Russia. (XinhuaLi Xueren) Chinese President Xi Jinping attends a welcome ceremony at the airport upon his arrival in Moscow, Russia, July 3, 2017. Xi embarks on a state visit to Russia. (XinhuaLi Xueren) Chinese President Xi Jinping and his wife Peng Liyuan are greeted by senior Russian officials upon their arrival in Moscow, Russia, July 3, 2017. Xi embarks on a state visit to Russia. (XinhuaXie Huanchi)
MOSCOW Wholesale Randy Foye Jersey , July 3 (Xinhua) -- Chinese President Xi Jinping arrived here on Monday, embarking on his second state visit to Russia since taking office in 2013.
In a written speech released upon arrival, Xi noted that the China-Russia comprehensive strategic partnership of coordination is at its best in history.
The Chinese top leader said the two countries, both staunch supporters of each other's core interests, have engaged in aligning the China-proposed Belt and Road Initiative with the Russia-led Eurasian Economic Union.
Beijing and Moscow, faced with complicated international situation, have played their due role in promoting win-win cooperation in international relations Wholesale Drazen Petrovic Jersey , and securing regional and global peace and stability, he said.
"This is my sixth tour to Russia since assuming office," Xi said, adding that he looks forward to in-depth exchange of views with his Russian counterpart, Vladimir Putin, on bilateral cooperation and major international and regional issues of common concern.
"One needs good partners to walk with, and good neighbors to live with Cheap Trevor Booker Jersey ," he noted.
Xi will hold talks with top Russian leaders during his stay, in a bid to deepen political trust and map out the future bilateral cooperation, Chinese Assistant Foreign Minister Li Huilai said at an earlier press conference.
China and Russia are each other's most trustworthy strategic partners, Xi told Russian media ahead of his visit, adding that the 4,300-km border line between the two countries has become a bond of friendship between the two peoples.
Xi and Putin, boasting close working relationship and intimate personal friendship Cheap Allen Crabbe Jersey , have met with each other for 22 times in five consecutive years. In an apparent gesture to support the Xi-proposed initiative, Putin came to Beijing in May to attend the Belt and Road Forum for International Cooperation.
Their closer-than-ever ties have become a "locomotive" for China-Russia relations, and kept boosting the bilateral comprehensive strategic partnership of coordination, said Chen Yurong, a senior researcher in Eurasian stud Launch
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