President Xi Jinping launched the Belt and Road Initiative to build infrastructure to connect China with East Asia, Africa and Europe in September 2013. Photo: AP

China slimming down Belt and Road Initiative as new project value plunges in last 18 months, report shows

  • The value of new projects across 61 countries fell 13 per cent to US$126 billion in 2018, with the figure falling further in 2019, according to Gavekal Dragonomics
  • The project was launched in September 2013 by President Xi Jinping, but China’a access to available funds has since diminished
Topic |   China economy

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President Xi Jinping launched the Belt and Road Initiative to build infrastructure to connect China with East Asia, Africa and Europe in September 2013. Photo: AP
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The publication of the World Bank’s new forecasts came as a top-level Chinese delegation led by Vice-Premier Liu He is due to meet their American counterparts later on Thursday in Washington for a new round of talks in hopes of easing trade tensions. Photo: Bloomberg

China’s growth outlook cut by World Bank as US trade war continues to weigh on economy

  • The Washington-based World Bank cuts China’s 2019 gross domestic product forecast to 6.1 per cent, just above the bottom-end of the government’s target range
  • China’s headline growth forecast for next year is also cut by 0.3 percentage points to 5.9 per cent, with the World Bank predicting a drop to 5.8 per cent in 2021
Topic |   China economy

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The publication of the World Bank’s new forecasts came as a top-level Chinese delegation led by Vice-Premier Liu He is due to meet their American counterparts later on Thursday in Washington for a new round of talks in hopes of easing trade tensions. Photo: Bloomberg
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