London is ‘natural Western end’ of Belt and Road Initiative

The City of London Corporation was keen to highlight ways in which it aims to support the BRI. Photo credit – Pixabay

London is ‘natural Western end’ of Belt and Road Initiative

A report published today by the City of London Corporation has called on UK banks to play an enhanced role in financing the modern Silk Road.

The report is clear about the impact that President Xi Jinping’s Belt and Road Initiative (BRI) will have:

”Touching 65 countries, 64% of the world’s population and 29% of the world’s GDP, the BRI stands to transform global connectivity and trade… The UK has been a strong advocate of the BRI since its announcement, and joined the Asia Infrastructure Investment Bank (AIIB) as a founding member.”

It was also argued that the BRI could be particularly important for London:

”London is the natural Western end of the BRI and can support the initiative as a hub for international infrastructure investment, and providing innovative financing products.”

The City of London Corporation was also keen to highlight ways in which it aims to support the BRI:

”With our longstanding representative offices in China, we are in a unique position to support BRI activity at both ends of the map.”

”We have participated in high-level events in the UK and China, including the Belt and Road Forum for International Cooperation hosted by President Xi Jinping in Beijing in May 2017, which the City of London the Rt. Hon. the Lord Mayor Alderman Charles Bowman spoke at, and the Special Adviser for Asia Sherry Madera attended.”

Rupert Reid

Pilot and Senior Broadcast Journalist at Panda Radio. You can find him on Twitter @rupertreid