Chinese leader Xi Jinping spells out ambitious Asia vision at Boao Forum

President Xi Jinping yesterday reassured the world that China's economy remained strong, as he vowed his initiative to boost links with Asian and European countries would provide trade and investment opportunities to "all nations".

Addressing the annual Boao Forum for Asia in Hainan province, Xi said China welcomed all countries to join the Beijing-led "One Belt, One Road" initiative, which aims to improve regional connectivity in a project inspired by the ancient Silk Road. He stressed the project was not meant to replace existing economic partnerships.

"The programmes of development will be open and inclusive, not exclusive. They will be a real chorus comprising all countries along the routes, not a solo [effort] for China," Xi said.

Xi's comments came as China released a blueprint outlining its vision for linking infrastructure, finance and telecommunications, and removing trade barriers, along the route.

The "One Belt, One Road" initiative has various threads. The Silk Road Economic Belt focuses on linking China, Central Asia, Russia and the Baltic states; linking China to the Gulf and Mediterranean through Central Asia and West Asia; and connecting China with Southeast Asia, South Asia and the Indian Ocean. The 21st-Century Maritime Silk Road will stretch from China to Europe through the South China Sea and the Indian Ocean in one route, and from China to the South Pacific in the other.

Xi said China's economy would continue to be a major driving force for Asia even though it forecast its rate of growth to slow. "As the economy continues to grow in size, around 7 per cent growth would be quite impressive, and the momentum this would generate would be larger than the double-digit growth of previous years," Xi said.