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• President Xi Jinping launched it in 2013 with a first speech in Kazakhstan and a second one in Indonesia.
• The Kazakhstan speech outlined five elements of the “Belt”: strengthening policy communication; road connectivity; currency circulation; people-to-people ties; and promoting unimpeded trade.
• As an economist with a keen interest in the political economy of China-Africa relations, I have studied the Belt and Road Initiative since its inception.
• Much is made of a fall in spending on the Belt and Road Initiative.
• Xi’s announcement at this year’s forum offered old and new news for the Belt and Road Initiative and its signatories.

Comparing promises 10 years on

Xi made eight major commitments at the October 2023 forum. More than half of these draw directly from the policy focus areas announced a decade ago.
Xi promised to build a multidimensional Belt and Road connectivity. He referred to roads, rail, port and air transport and related logistics and trade corridors.
He promised to open China’s economy more to the world. Higher trade levels would be one way. Alongside a new emphasis on the digital economy, Xi added that China would establish pilot zones for e-commerce-based cooperation. In Africa, a guide to those may be provided by the two existing digital commerce hubs set up by Alibaba in Ethiopia and Rwanda under its electronic World Trade Platform Initiative.
He spoke of “practical cooperation”. This seems to refer to financing for expensive infrastructure projects, smaller livelihood projects and technical and vocational training. This has an aspect of crossover with currency circulation, people-to-people ties, unimpeded trade and more.
Xi’s recent speech also promised to support people-to-people exchanges. This is a direct take from the first launch speech of 2013. But he added detail about establishing arts and culture alliances. Also that China would host a “Liangzhu Forum” to enhance dialogue on civilisation.
Finally, in line with the earlier commitment to elevated policy dialogue, Xi promised to strengthen institutional building for international Belt and Road Initiative cooperation. This relates to building platforms for cooperation in energy, taxation, finance, green development, disaster reduction, anti-corruption, think-tanks, media, culture, and other fields.

• Beyond the promises made in Xi’s speech to this year’s forum, elevated funding for China’s policy banks was announced.
• Further, agreements made between participants also signal commitment to the original principles of the Belt and Road Initiative.

New promises

There are three new policy promises added to those of a decade ago.
China will promote green development, including green infrastructure, green energy, and green transportation. It will hold a Belt and Road Initiative Green Innovation Conference and establish a network of experts. China also promised to provide 100,000 training opportunities in areas of green development.
China will continue to advance scientific and technological innovation. It will hold a conference on Science and Technology Exchange, and increase the number of joint laboratories that support exchange and training for young scientists. Xi also promised that China would propose a Global Initiative for Artificial Intelligence Governance, and promote secure artificial intelligence development.
China will promote integrity-based cooperation. This would include publishing details of Belt and Road achievements and prospects, and establishing a system of evaluating compliance.
These new areas are of increasing economic importance to China, amid rapid population ageing especially, and competition with high-income countries.

The future

• There was more detail especially on people-to-people ties and on areas of policy dialogue to be fostered.
• He added some new areas such as artificial intelligence governance, green development, e-commerce, and greater emphasis on scientific and tech cooperation.
• Comparing the new policy signals with the earlier ones implies that the initiative is by design adaptable.

Lauren Johnston does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

• WAYNE, Pa., Sept. 15, 2023 (GLOBE NEWSWIRE) -- Teleflex Incorporated (NYSE: TFX), a leading global provider of medical technologies, today announced it has been selected to exhibit Arrow™ VPS Rhythm™ DLX Device and Arrow™ PICCs preloaded with the NaviCurve™ Stylet at the Vizient Innovative Technology Exchange.
• Vizient, Inc ., the nation’s largest provider-driven healthcare performance improvement company, will hold the Exchange on Oct. 3 in Grapevine, Texas.
• The VPS Rhythm™ DLX Device and NaviCurve™ Stylet are engineered to work together to give Vascular Access Specialists more efficient and predictable PICC placement.
• This device works in concert with the Arrow™ PICC preloaded with the NaviCurve™ Stylet, providing innovative tip navigation/location technologies.

• Ramsey, NJ, Aug. 15, 2023 (GLOBE NEWSWIRE) -- Konica Minolta Business Solutions U.S.A., Inc. ( Konica Minolta ) today announced it has been selected to exhibit Connected Care , a system to streamline manual processes related to patient intake, care coordination and referral and order management at the Vizient Innovative Technology Exchange.
• Vizient, Inc , the nation’s largest member-driven healthcare performance improvement company, will hold the Exchange on October 3 in Grapevine, Texas.
• “The selection process for suppliers who exhibit at the Exchange is rigorous, and this technology has earned its coveted invitation to the event.”
  The annual Innovative Technology Exchange is part of Vizient’s Innovative Technology Program that includes product review of supplier-submitted technologies by member-led councils and task forces.
• Since 2003, Vizient has reviewed more than 1,600 product submissions as part of its Innovative Technology Program.

• Dunad Therapeutics , a biopharmaceutical company developing covalent small molecule therapies with a focus on protein degradation, today announced the appointment of Jonathan Garen as its Chief Business Officer.
• "Jonathan is a proven leader in business development and corporate strategy, with a strong track record of building high value partnerships,” said Pearl Huang, Chief Executive Officer of Dunad Therapeutics.
• “His expertise will bring immense value to Dunad as we expand the role of covalent small molecules to create first-and best-in class therapeutics that access previously undruggable or historically challenging targets.”
  Mr. Garen joins Dunad with more than 25 years of operational experience in business development and pipeline and corporate strategy, including serving as Chief Business Officer of Nocion Therapeutics, Inc., where he led pipeline, partnering and commercial strategy.
• Mr. Garen was also a member of the Board of the Alliance for Regenerative Medicine, an industry organization focused on genetic medicines.