Infrastructure connectivity is hign on the agenda of the Belt and Road Initiative (BRI), and a composite infrastructure framework is taking shape rapidly, according to a report released Monday on BRI's progress, contributions and prospects.
"B&R countries have made concerted efforts to build an all-round, multi-level, and composite infrastructure framework centered on railways, roads, shipping, aviation, pipelines, and integrated space information networks," the report said.
The framework has greatly reduced the transaction costs of products, capital, information, and technologies flowing between regions, and effectively promoted the orderly flow and optimal allocation of resources among different regions, according to the report.
The report said significant progress had been made in the construction of international economic cooperation corridors and passageways.
Six major corridors including the New Eurasian Land Bridge connect the Asian economic circle with the European economic circle, and have played an important role in establishing and strengthening connectivity partnerships between participating countries and building an efficient and smooth Eurasian market, according to the report.
"Infrastructure connectivity has been remarkably enhanced," the report said. Insufficient infrastructure investment is a bottleneck for economic development in developing countries, and accelerating infrastructure connectivity is a key area and core goal of the BRI.
The report, prepared by the office of the leading group for promoting the BRI, was released ahead of the second Belt and Road Forum for International Cooperation to be held from April 25 to 27 in Beijing.
