China to import $2.8 trillion in products from Belt and Road countries

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May 15, 2017 06:00 am

BEIJING: China will import US$2 trillion (S$2.81 trillion) worth of products from countries participating in its Belt and Road initiative over the next five years, Commerce Minister Zhong Shan said at a summit. He also said China will promote free trade talks and push forward with negotiations to form the Regional Comprehensive Economic Partnership, a China-backed trading pact.

China will provide emergency food aid to developing countries along the Belt and Road, and make an additional contribution of US$1 billion to the Assistance Fund for South-South Cooperation, Chinese President Xi Jinping said.

Meanwhile, US companies are ready to get involved in China's Silk Road project. US delegate Matt Pottinger said US companies had "much to offer" the project, such as "best-value goods and services", AFP reported.