久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

USEUROPEAFRICAASIA 中文雙語Fran?ais
China
Home / China / Across America

Private ?nance called vital for Belt and Road

By CECILY LIU | China Daily USA | Updated: 2017-08-12 05:48

Private ?nance called vital for Belt and Road

Michelle Karavias, global head of infrastructure research at BMI Research, says that innovative ?nancing structures to de-risk projects would help motivate private sector ?nancing. PROVIDED TO CHINA DAILY

Research chief says initiative calls for innovative solutions to ensure success of ambitious infrastructure projects

The Belt and Road Initiative calls for innovative ?nancing methods to unlock private sec-tor capital and enable its long-term sustainable development, according to Michelle Karavias, global head of infrastructure research at BMI Research, a subsidiary of the US rating agency Fitch.

Innovative ?nancing structures to de-risk projects, such as loan guarantees, would help motivate private sector ?nancing, says Karavias. Meanwhile, the emerging new multilateral development banks, such as the Asian Infrastructure Investment Bank, can use their ?exibility and innovation to con-tribute to tackling global infra-structure ?nancing challenges, she adds.

Innovative ?nancing structures can help mitigate the risks that would otherwise be present in countries covered by the Belt and Road Initiative, and such an inclusive approach to achieving growth through the public and private sectors' concerted efforts is coherent with China's ideology of inclusive growth, she says.

At BMI, Karavias leads a team of researchers conducting analysis of risks in the Belt and Road economies, the results of which are then shared with private sector clients who are keen to understand the risks and plan their business activities accordingly.

Proposed by President Xi Jinping in 2013, the Belt and Road Initiative seeks to increase connectivity between China and Europe, Africa and the rest of Asia through infra-structure investment.

Karavias says it is encouraging that Xi emphasized that the Belt and Road is a globally shared initiative, not just built or driven by China.

"China is leading it, but it is not something China alone will have the burden or role in executing," she says.

China's commitment to Belt and Road investment is significant. President Xi also con?rmed at the two-day Belt and Road Forum for International Cooperation in Beijing in May that China will contribute an additional 100 billion yuan ($14.49 billion) to the Silk Road Fund. The fund, founded in November 2014 with China's initial contribution of $40 billion, aims to boost infrastructure and improve ?nancial cooperation along the centuries-old Silk Road trading routes.

Yet infrastructure spending potential is far greater. For instance, the McKinsey think tank estimates that the world needs to spend about $57 trillion on infrastructure by 2030, of which two-thirds will be required in developing countries.

Karavias says the large-scale infrastructure needs of the Belt and Road Initiative could change how global capital is mobilized to unlock infrastructure investment, if private sec-tor investors are willing to pro-vide ?nancing.

Karavias says there are two major ways to motivate private sector financing. The first is the short-term solution of governments and multinational investment banks providing loan guarantees for private sec-tor lenders.

Loan guarantees are structured in such a way that if a big project fails, the governments or multinational investment banks providing the guarantee will absorb the debt obligation.

Hence, the loan from the investors' perspective is the same as one issued to a government.

The second solution, which is more sustainable, is the process of giving technical support to government institutions, which can then help contribute to the success of individual infrastructure projects. Such support could include the process of helping projects gain the necessary planning and environmental permits or working with governments to create multilateral regulatory frame-works.

Karavias says that, so far, much of the financing for Belt and Road infrastructure projects has come from Chinese institutions such as the Silk Road Fund. This is partly because Chinese banking institutions often have higher risk tolerance, which allows them to take on more daring projects in the Belt and Road countries, many of which are located in frontier markets with higher risks.

As well as the massive scale of the Belt and Road Initiative, another reason the concept has gathered so much attention is its birth in an era when infra-structure investment is gathering unprecedented momentum.

"Infrastructure is getting more attention than it had in the last few decades. We are at a point in time where we have more funding available from multilateral development banks and private investors focusing on infrastructure," Karavias says.

Underlying such high infra-structure focus is the global recession that followed the 2008 ?nancial crisis, and the commodity price decline in more recent years.

"The recession brought people's attention to structural barriers to growth, and the infrastructure gap is one such structural issue," she says.

Within this landscape, she says, one unique advantage of the AIIB as a newer bank is its ability to be nimble and react quicker to ?nancing conditions, in accordance with its motto of "clean, lean and green". The AIIB's commitment to clean development is also in line with China's focus and dedication to environmental protection, she says.

"China is becoming more prominent in the global renew-able energy space. It is being more vocal about its commitments to the Paris Agreement and its latest five-year plan places emphasis on efficiency and environmental policy," she says.

As well as its commitment to international environmental protection, China's domestic experience in upgrading infra-structure is also key, as it can share its experience of implementing clean energy in China in its process of bringing expertise to Belt and Road countries.

"Emerging markets have the ability to leapfrog developed markets in terms of technology integration, as much of the infrastructure is being built from scratch when it is much cheaper and easier to integrate new technologies, compared to the high cost of retro?tting existing infrastructure assets," says Karavias. "Central planning at earlier stages is also key. For instance, rail is more efficient and clean than roads; therefore, there are many opportunities for new projects along the Belt and Road to lead technology."

In addition to green technology, China's leadership in smart city planning and the integration of key technology to address urbanization demands are also important lessons it can share with the Belt and Road countries. Karavias says smart city solutions are very much about integrating technology so that existing infrastructure can be better used by the public.

Over the long term, smart city solutions are also about making cities resilient to global issues such as climate change.

Looking into the future, Karavias is optimistic about the prospects of the Belt and Road Initiative and the role it can play in an era when globalization is considered important.

The protectionist policies in some developed economies, such as the United States, fur-ther highlight the signi?cance of the Belt and Road Initiative in connecting countries that are open to free trade.

"Trade is going to be driven increasingly by emerging markets. Rising protectionism from some markets is not detrimental, but what we see is other countries ?guring out how to trade more among themselves," she says.

For example, a market like Mexico would be looking at how to trade with other countries in the Trans-Paci?c Partnership following the US withdrawal and a potential disbanding of the North American Free trade Agreement. Mean-while, Russia is looking more toward Asia for how to reorient its trade strategies.

"And within this context, the Belt and Road Initiative will instigate global trade and increase the prominence of China within the global trade environment."

Polar icebreaker Snow Dragon arrives in Antarctic
Xi's vision on shared future for humanity
Air Force units explore new airspace
Premier Li urges information integration to serve the public
Dialogue links global political parties
Editor's picks
Beijing limits signs attached to top of buildings across city
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

    91制片厂毛片| 欧美黑人在线观看| 免费一级淫片aaa片毛片a级| 好男人www社区| 日本一区午夜艳熟免费| 一二三级黄色片| 无码无遮挡又大又爽又黄的视频| av中文字幕av| 亚洲黄色小视频在线观看| 鲁一鲁一鲁一鲁一色| 美女av免费观看| 午夜大片在线观看| 中文字幕在线观看第三页| 精品少妇在线视频| 成人在线免费高清视频| 老司机久久精品| 午夜dv内射一区二区| 和岳每晚弄的高潮嗷嗷叫视频| 日本一二三四区视频| 麻豆三级在线观看| www.国产区| 国产精品宾馆在线精品酒店| 国产免费裸体视频| 国产激情片在线观看| 国产黑丝在线视频| 天堂av8在线| 久久婷婷综合色| 日韩一级理论片| 日韩视频免费在线播放| 春日野结衣av| 欧美三级一级片| 国产极品尤物在线| 可以在线看的av网站| 国产日韩av网站| 国产一二三在线视频| 日韩久久久久久久久久久久| 麻豆传媒网站在线观看| 久久久无码中文字幕久...| 精品国产无码在线| 国产精品12p| 大地资源网在线观看免费官网| 午夜影院免费版| 日韩最新中文字幕| 国产人妻人伦精品| 国产av熟女一区二区三区| 国产一级大片免费看| 狠狠干视频网站| 99国产精品白浆在线观看免费| 日韩一二区视频| 青青在线免费观看| 成年人午夜视频在线观看 | 欧美一级黄色影院| 噼里啪啦国语在线观看免费版高清版| 999香蕉视频| 999精彩视频| 91日韩精品视频| 午夜久久久久久久久久久| 免费看日本黄色| 欧美精品一区二区三区三州| 男人天堂1024| 日韩手机在线观看视频| 91日韩视频在线观看| 加勒比av中文字幕| 99视频精品全部免费看| 又大又硬又爽免费视频| 日韩精品视频一区二区在线观看| 久久综合久久色| 韩国一区二区在线播放| 看全色黄大色大片| 欧美综合在线播放| 欧美黑人又粗又大又爽免费| 五月激情婷婷在线| 51xx午夜影福利| 东京热加勒比无码少妇| 午夜啪啪小视频| 真实国产乱子伦对白视频| 日韩av片在线看| 免费在线观看污网站| 国产尤物av一区二区三区| 黄色片一级视频| 婷婷激情5月天| 精品国偷自产一区二区三区| 老熟妇仑乱视频一区二区| 中文字幕一区二区在线观看视频| 99er在线视频| 91人人澡人人爽人人精品| 女同性恋一区二区| 十八禁视频网站在线观看| 色偷偷中文字幕| 国产精品秘入口18禁麻豆免会员| 中文字幕22页| 少妇人妻无码专区视频| 一区二区免费av| 亚洲熟妇国产熟妇肥婆| www.cao超碰| 国产成人无码精品久久久性色| 九九精品久久久| 无罩大乳的熟妇正在播放| 色婷婷.com| 人人干视频在线| 两性午夜免费视频| 欧美综合在线观看视频| 日韩精品一区二区三区电影| 中文字幕第21页| 日b视频免费观看| 欧美丝袜在线观看| 东京热加勒比无码少妇| 日本xxx免费| 日本 片 成人 在线| 奇米影视亚洲色图| av电影一区二区三区| 毛葺葺老太做受视频| 日本免费a视频| 三级一区二区三区| 国产精品人人妻人人爽人人牛| 成人污网站在线观看| av亚洲天堂网| 熟妇人妻va精品中文字幕 | 香港日本韩国三级网站| 国产一级爱c视频| 国产奶头好大揉着好爽视频| 国产一二三四在线视频| 成人免费毛片网| 国产精品无码电影在线观看| 福利视频999| 亚洲福利精品视频| 成年网站在线免费观看| av网站大全免费| 中文字幕色呦呦| 红桃视频一区二区三区免费| 国产精品久久久毛片| 免费裸体美女网站| 免费看日本毛片| 国产精品69久久久| 欧美少妇一区二区三区| 亚洲高清av一区二区三区| www.精品在线| www.夜夜爽| 天堂av在线网站| 欧美自拍小视频| 日av中文字幕| 日本精品免费在线观看| 日本午夜激情视频| 精品丰满人妻无套内射| 男人天堂手机在线视频| 999久久欧美人妻一区二区| av磁力番号网| 潘金莲一级淫片aaaaaa播放1| 日本中文字幕在线不卡| 色婷婷一区二区三区在线观看| 手机免费看av网站| 婷婷激情5月天| 99精品视频国产| 国产资源中文字幕| 日本美女久久久| 久久免费一级片| 男女裸体影院高潮| 久久久久久久9| 99在线精品免费视频| 午夜免费福利小电影| 少妇高潮喷水在线观看| 男人的天堂99| 爆乳熟妇一区二区三区霸乳| 精品亚洲一区二区三区四区| 色免费在线视频| 91热视频在线观看| 中国一级黄色录像| 日韩美女爱爱视频| 丰满爆乳一区二区三区| 999在线免费视频| 亚洲黄色av片| 日本a级片在线观看| 日韩精品在线中文字幕| 97成人在线观看视频| 九九视频精品在线观看| 91小视频在线播放| 欧美国产视频一区| 虎白女粉嫩尤物福利视频| 污污的网站18| www.-级毛片线天内射视视| 欧美视频在线观看视频 | 日韩欧美中文视频| 路边理发店露脸熟妇泻火| 欧美精品一区二区三区三州| 亚洲中文字幕无码不卡电影| 成 人 黄 色 小说网站 s色| ijzzijzzij亚洲大全| 777av视频| 亚洲精品自拍网| 天堂а√在线中文在线| 国产综合免费视频| 国产免费中文字幕| 国产精品视频网站在线观看| 草草草在线视频| 久久免费看毛片| 91猫先生在线| 亚洲第一精品区| 少妇人妻在线视频| 一二三级黄色片| 亚洲 欧美 日韩 国产综合 在线 |