Finance minister tells three-day summit it will act to ensure sustainability, while Europeans and the US allege lack of transparency
Suit summit: Representatives from 37 countries are attending a summit in Beijing on China’s Belt and Road initiative amid criticism from Europe and the US about a lack of transparency and opaque financing. Picture: AFP
Finance minister Liu Kun, speaking at a forum to kick off a three-day Belt and Road summit in Beijing, said China will establish an analysis framework on debt sustainability for Belt and Road projects to “prevent and resolve debt risks”. China will follow market principles and rely on commercial funds for Belt and Road financing, Yi said, adding that China will improve transparency for those projects.
They also pledged to undertake higher quality projects that would hire more local staff and respond to the needs of recipient countries.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China in bid to allay fears of debt risk in its Belt and Road initiativeFinance minister tells three-day summit it will act to ensure sustainability, while Europeans and the US allege lack of transparency
Read more »
China’s Belt and Road Initiative ‘a win-win cooperation’, says Ambassador Lin SongtianHe says the remarks from the critics of the initiative 'do not hold water, either theoretically and practically'.
Read more »
Business Maverick: China’s Xi Defends Belt and Road, Vows `Zero Tolerance’ of GraftChinese President Xi Jinping pledged to clean up his signature Belt and Road infrastructure program amid criticism the policy is indebting poorer nations and making them dependent on Beijing.
Read more »
Top honour for Survé in China | IOL Business ReportThe Belt and Road News Network has become the largest and most widely participated media event in China
Read more »
Volkswagen and JAC teaming up to build new EV plant in ChinaSuper facility capable of producing 100,000 all-electric battery cars a year.
Read more »
Hyundai profits spike as South Korean and US sales offset China slumpHyundai reports better-than-expected 24 percent jump in net profit for the January to-March quarter.
Read more »
China's plastic waste ban throws global recycling into chaosFrom grubby packaging engulfing small Southeast Asian communities to waste piling up in plants from the US to Australia, China's ban on accepting the world's used plastic has plunged global recycling into turmoil.
Read more »
China draws up tighter rules on human gene and embryo trials - reportUnder the draft laws sent to China’s legislature for review, medical and human trials would face closer scrutiny and stricter requirements, according to a report.
Read more »
'Tank man' video for Leica sparks outcry in China
Read more »
China shows off new destroyer as Xi views naval paradeThe navy has been a major beneficiary of the modernisation, with China looking to project power far from its shores and protect its trading routes and citizens overseas.
Read more »
Toyota sets up study of hydrogen and green technologies in ChinaJapanese carmaker to share technology as it seeks to expand its business
Read more »