Prof. ZHANG Jianping

Director, Dept.of International Economic Cooperation

Institute for International Economic Research, NDRC

2015.Jun.11th

APEC and the Belt and Road Initiative

Implement a More Proactive Opening up Strategy and Building an

More Opened Economic System

Critical period of economic transition

Necessary for a new round

of reform and opening up

Background

Promoting Reform by Opening Promoting Development by Reform

Solving the dynamic problem of the

reform

Intrinsic Motivation

Extrinsic Motivation

Dilemma: Institutional mechanism

can not meet the fundamental

needs of market economy

The new round reform is facing

great resilience

Promoting transition by development

★ China’s Pattern Transition and Restructuring Must be

Carried out under the Condition of Opening up.

Playing a More Constructive Role in Regional and Global Governance

Accelerating the

Construction of RTAs

and FTZs

Building a

New Opening

Economic

System

Liberalize

Market

Access Expanding

Opening up along

the

Border

Global Economic Governance：UN & G20

Global Finance Governance: ：IMF+WB+BRICS

WTO Doha Round

Regional Economic Governance: RTA、APEC

Sub-regional Cooperation：GSM+GTI、AIIB

Bilateral Investment Agreement: BIT

Government Purchase Agreement: GAP

Environmental Products List

Intellectual Property Rights Agreement：TRIPS

Globalization

Regional Integration

Economic Factors Movement

And Efficient Reallocation

The Belt and Road Initiative :

A New Initiative of International Regional

Cooperation from China

The Belt and Road Construction is a Comprehensive and Multi-level Systematic Platform

Co-prosperity

Trade and Investment Liberalization and Facilitation + FTA+FTZ

New Global Supply Chain and Regional Production Networks

Mutual trade and Investment

Infrastructure Interconnectivity+ People to people connectivity

The Silk Road Fund＋Asian Investment Bank＋PPP＋International Finance

Institution＋Development Financing Supporting

Comparison of “The Belt and Road” and APEC

Total Population: 4.4 Billion

(63% of the world)

Aggregate Economic Volume:

$21 trilion

(23% of the world)

Exports of Goods and

Services:

23.9% of the world

The Belt and Road

Total Population:

40% of the world

Aggregate Economic Volume:

57% of the world

Exports of Goods and

Services:

48% of the world

APEC

Pacific Dream of APEC

Beijing Road Map of FTAAP

Strategic Blue Print of

Communication and

Connectivity (2025)

Governmental

Communication and

Information Sharing

Mechanism

Innovation

Drives Growth

Global Supply

Chain

Green Supply

Chain

New-style

Urbanization

New Energy

…

APEC：Pacific Dream

RTA path of China in Asia and the Pacific Area

China will be happy to see the succeed of TPP, but

boost RCEP mostly.

Principle:

From easy to difficult

From simple to complex

Gradually penetrate into

China &

Korea

China & Japan &

Korea

10+3

10+6

Four Opened and Inclusive Characters of the Belt

and Road Initiative to the outside word

Cooperate

development.

Mutual benefit

A win-win

situation

Booming together

The concept

is opened and

comprehensive

No access

limitation

No negotiation

No exclusion

The space

is opened and

comprehensive

Five types of

connectivity

Domains

are opened and

comprehensive

The mode

is opened and

comprehensive

Institutional and

non-institutional

Efficiency will be

improved

Asian Infrastructure Investment Bank

（AIIB） Demand of Asian infrastructure build VS Supply of financing

ADB Fund VS Indonesia Demand

Complementary of the international financial

governance system instead of replacement

Complementary relationship with WB and ADB

Governance, procedure and standard of project are the

points.

American secretary of state + European wisdom

Welcome the US and Japan join in，perform Japan

plunge more money into AIIB.

Cooperation within China, Japan and

Mexico

China’s Semi-product to Mexico and re-export to Japan.

Three big economies of APEC based on population scale

and economic scale

Japan Mexico EPA vs. China-Mexico FTA? FTAAP

(China-Chile, Peru and Costa Rica)

China Latin America Forum

China’s investment in Mexico:

SOE vs. Private case

South-South Cooperation, G20, APEC

Both APEC and the belt and Road initiative will be important for China’s new round of opening up and reform

The initiative will boost Chinese economic transition and restructuring toward a more stable, more sustainable development model.

Countries along The Belt and Road will be involved in regional cooperation and globalization. They can share the Chinese economic high growth and the large market share.

Mutual Discussion + Common Building + Sharing + A win-win situation

Construct The Belt and Road will be beneficial to a more balanced regional economic development and globalization

Coexistence of many types of civilizations. Learning each other.

Conclusion：Oriental Wisdom and Comprehensive Development

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