Chinese President Xi Jinping Outlines Next Phase of BRI

China's President Xi Jinping speaks during the opening ceremony of the third Belt and Road Forum for International Cooperation at the Great Hall of the People in Beijing on October 18, 2023. Pedro PARDO / AFP

China will funnel about $100 billion into its state banks to fund the next phase of the Belt and Road Initiative (BRI). This was one of the announcements during Chinese President Xi Jinping’s keynote presentation at the Belt and Road Forum, during which he outlined expansive plans for the BRI’s next phase.

In the speech, Xi outlined the BRI’s past successes, saying it is moving on from “sketching the outline” towards “filling in the details.” He characterized the future of the BRI as led by “small yet smart” projects and the principles of green, transparent, and non-corrupt cooperation while rejecting decoupling.

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by Cobus van Staden

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