Volume of import and export of Chinese goods to exceed $32 trillion in 5 years

In the next five years the volume of import and export of the Chinese goods is set to exceed $32 trillion, while service trade is slated to surpass over $5 trillion, Chinese President Xi Jinping said at the 3rd High-Level Belt and Road Initiative in Beijing, Kazinform News Agency correspondent reports. 

According to Xi Jinping, China is planning to provide a zone for cooperation in the sphere of Silk Road e-commerce and hold talks on the free-trade agreements as well as the agreements on the protection of investment with a host of countries.

“In the next five years the volume of import and export of the Chinese goods is set to exceed $32 trillion, while service trade is slated to surpass over $5 trillion,” Xi Jinping announced.

He also revealed that the China Development Bank and the Export-Import Bank of China are expected to channel 350 billion yuan each into the projects within the framework of the One Belt, One Road Initiative.

On top of that, the Silk Road Fund will increase its capital by 80 billion yuan to support joint construction of the initiative’s projects.