INP-WealthPk

Consultation, Construction and Shared Benefits is the Key of BRI

November 27, 2019

Li Shuyu, Li Xin & Wang Yuhao

The vital reason of BRI gaining much international support lies in adhering to the basic principle of consultation, construction and shared benefits. Consultation, construction and shared benefits are fundamental to the development of BRI over the past six years, and the driving force for building a community for mankind.

Adhering to consultation, construction and shared benefits fully embodies China’s implementation of open, inclusive and mutually beneficial cooperation in the BRI. Consultation, construction and shared benefits are not only at the national level and the international organization level, but also at the industrial level and the non-governmental organization level. We need to mobilize and play a positive role at different levels, so as to build an active situation in which all parties participate. Of course, it is impossible to build this situation overnight, and we need to make unremitting efforts to do it. In order to further implement consultation, construction and shared benefits, it is particularly necessary to raise the level of foreign exchanges and international cooperation of all relevant parties in China, because some of Chinese government officials and entrepreneurs do not have much experience in foreign exchanges and international cooperation. There is a need to improve the civilization of the general public at home, because Chinese tourists make first impression on foreigners.

To further implement consultation, construction and shared benefits, we need to do the following three things:

First, For the sake of others. Focusing on the developing needs of each other to carry out cooperation; People from different countries have different values and ways of life and production. Don't take it for granted that you should support me if I invest in such a big project. Second, China should promote multi-party cooperation. While implementing BRI cooperation between China and one country, we should develop trilateral cooperation between China and one country plus another, and develop cooperation between China and other countries. In this context, other countries refer to multiple countries in domain-specific international cooperation organizations or regional international cooperation organizations. They also refer to the BRI cooperation voluntarily put together by multiple countries, so as to expand the scope and effect of consultation, construction and shared benefits. Third, China should combine “going global” with “bringing in” to let the other side share more of China’s openness. It shows that BRI is to shorten the distance between China and the world, also shows that China and the world are inseparable. In the aspect of “bringing in”, we should not only attach importance to the introduction of funds, technology and management of multinational corporations from developed countries, but also encourage enterprises from developing countries to invest in China: first, attract developing countries to enter China's textile, mechanical and electrical, building materials and other professional markets. The second is to provide them with concessions to participate in exhibitions (including professional exhibitions) in China, and the third is to hold more training activities for enterprises in developing countries to help them improve their ability to develop the Chinese market. All these are conducive to its development of Chinese market, reducing its trade deficit with China and achieving the purpose of sharing benefits.

At present, the demand for cooperation between Chinese enterprises and enterprises in countries along the BRI is increasing, but there are generally some problems in the cooperation between the two enterprises, especially small and medium-sized enterprises, such as lack of business information and channels. It is suggested that China Business Service Center should be set up in the countries along BRI. The first is to provide local enterprises with business consultation on entering China and developing the Chinese market. Second, China need to help Chinese enterprises “going global” to avoid detours and improve trade and investment efficiency. In particular, Chinese small and medium-sized enterprises need consulting services, and they need to master the market characteristics of the country where they operate. The establishment of a China Business Service Center shall be carried out under the leadership of the Chinese Embassy abroad. Although the establishment of a China Business Service Center requires a certain amount of capital from the Chinese government, the investment in this area is worthy. To make small and medium-sized enterprises in countries along BRI profit from the BRI is the result of adhering to the principle of consultation, construction and shared benefits.

Reviewed by : Muhammad Zamir Assadi