By The Belt and Road Progress Research Team, Renmin University of China

On September 7, 2013, Chinese President Xi Jinping made a speech titled "Promote People-to-People Friendship and Create a Better Future" in Kazakhstan, proposing to build a Silk Road Economic Belt together with Central Asian countries. On October 3 of the same year, President Xi delivered another speech in Indonesia titled “Join Hands in Building China-ASEAN Community of Shared Destiny,” unveiling a major initiative to build “the 21st-Century Maritime Silk Road.”

Over the past three years, significant progress has been made on the Belt and Road Initiative (hereinafter referred to as the “BRI”). An array of key projects is underway, with a commitment to achieving common development and shared growth through joint consultation.

President Xi said that more than 100 countries and international organizations are currently involved in the Initiative. Over 30 countries along the Belt and Road have signed cooperation agreements with China. China is working with more than 20 countries on capacity building projects in the manufacturing sector. UN and other international organizations have taken a positive attitude towards the Initiative.

Besides, financial cooperation within the frameworks of the Asian Infrastructure Investment Bank (AIIB) and Silk Road Fund is gaining traction, and a number of signature projects have been launched. Cooperation between China and countries along the “Belt and Road” is gaining pace, which is creating momentum for growth in these economies as well as bringing about great opportunities for shared development.

Based on an understanding of fundamental principles about international economic development, the BRI represents an emerging trend in global economic cooperation, which has gained global consensus and is offering a very promising outlook for development.

This report provides an overview of the main achievements of the BRI over the past three years from eight perspectives: BRI’s top-level design, related policy coordination, facilities connectivity, unimpeded trade, financial integration, people-to-people bond, China’s domestic efforts, as well as suggestions for BRI’s future growth. The report highlights the BRI’s key progress in the past three years, with an aim to provide actionable ideas for its further implementation.