UK sets example by joining Belt and Road Initiative

Since then, many other developed countries have followed suit. The courage, guts andvision of the UK have left a deep impression on the world. Not long ago, British FinanceMinister George Osborne visited Xinjiang, sending a positive signal for the country'sparticipation in building "One Belt, One Road". UK's willingness to actively cooperate withChina will usher in a golden era for Sino-UK relations. In general, there are five ways for the UK to join the Belt and Road Initiative. First, strategic matchmaking. The UK is not a country along the ancient Silk Road tradingroutes or covered by the Belt and Road Initiative. However, it has proposed to match theNorthern England Revitalization Plan with the initiative. By inviting Chinese President XiJinping to visit Manchester, the UK has sent a positive signal that non-member countries canalso actively participate in the initiative. Second, connectivity in five aspects. China has set up offshore yuan clearing center in the UKwhich will be the first western country to issue yuan-dominated sovereign bonds duringPresident Xi's upcoming visit. As a veteran financial power, the UK plays a critical role inpushing forward the Silk Road Fund and yuan internationalization. Many countries along theBelt and Road are former British colonies which have been adopting the British-style legalsystem. Therefore, it is of great necessity and profound significance for China and the UK toboost the connectivity in policies, facilities and the people. Third, development of third-party markets. Unlike the US who achieved hegemony with itsalliance system, the UK is a country that used to rule the world. Its governors imposed directcontrol over the British colonies, including many along the Belt and Road. Therefore, there istremendous room for economic and security management cooperation. UK's experience,wisdom and creativity, coupled with China's model and technologies, will achieve remarkableresults. Compare with China, the UK has a deeper understanding of the third-party markets including legal and insurance services, which is of profound value to boost the Belt and RoadInitiative, and strengthen the presence of "Made in China", "Built by China" and "Servicesfrom China" along the economic belt and silk road. Fourth, international capacity cooperation. Britain was the birthplace of industrial revolution,whose infrastructure is aging and yet fully digitized, providing immense room for Sino-UKcapacity cooperation. During his visit to the UK, Xi is expected to ink a 240-billion-yuan ($37.8billion) nuclear deal, leading the trend of international capacity cooperation. Fifth, joint development of the Maritime Silk Road. The China-EU 2020 Strategic Agenda forCooperation proposes to enhance exchanges and cooperation between China and Europe inareas including integrated ocean management, marine spatial planning, marine knowledge, ocean observation and monitoring, marine -tech research and development, marine economy,and marine energy. As a global maritime power, the UK can be actively involved in theseareas, especially in maritime shipping, logistics, maritime security, marine economy, marinespatial planning, marine resources, data development and sharing, and marine environmentalprotection. In addition, the UK has a critical say in making international shipping regulations,and can be an important partner of building the Maritime Silk Road. The Sino-UK maritimepartnership will strengthen the ties between China and Europe in peace, growth, reform andcivilization. By actively participating in Belt and Road Initiative, the UK has set an example to the rest ofthe world that open cooperation, harmony and inclusiveness, market operation, and mutualbenefits are the way out. It not only embodies the spirit of the Silk Road, but also heralds anew model of globalization.

Source: Chinadaily.com.cn