Shaanxi prospers from Belt and Road development

"If China and the European Union can strengthen their common understanding on free trade, this will help further their cooperation", said Jing Men, professor of the College of Europe.

Erdo─čan said that the total length of the modern Silk Road is 109,000 kilometers and that the area covers more than 50 countries in eastern, central and western Asia and central, southern and western Europe in over 40 million square kilometers, which corresponds to 4 billion people and 26 percent of the world's surface area.

"China is offering an alternative to the US version of globalization", Cai said.

Ties had been tense over the previous government in Seoul agreeing to host the United States anti-missile system THAAD (Terminal High Altitude Area Defence) which led to a suspension of diplomatic exchanges and South Korean companies in China being targeted by boycott calls.

There is also optimism among some Chinese experts about the future trajectory of the relations between the GCC countries and China.

Leaders from 28 nations, including Russian President Vladimir Putin and Turkish President Recep Tayyip Erdogan, are also attending the two-day meeting at Yanqi Lake, located in a Beijing suburb near the Great Wall, the AFP reported.

Chinese Foreign Ministry spokesman Geng Shuang said Pottinger, special assistant to the president and the National Security Council's senior director for East Asia, would be coming.

The state-run China Development Bank announced in 2015 it had set aside $890 billion for more than 900 "One Belt, One Road" projects across 60 countries in gas, minerals and other sectors.

"Australia sees some complementarities between initiatives we're undertaking like Northern Australia and China's (scheme)", Mr Ciobo told AAP. China's premier has cited the promoting of Chinese standards overseas as one of Beijing's goals. The hope is the belt and road will make it easier for goods and investments to flow into these countries from China and vice versa.

Furthermore, Nepal's largest media house's web portal, ekantipur.com, has also posted a detailed news story of the event, stating: Nepal became the formal member of the neighbor China's ambitious OBOR project introduced for development cooperation.

To help its efforts at reviving the ancient Silk Road catch on with the younger crowd, China has begun appealing to foreign children with propagandistic bedtime stories and catchy sing-alongs. Prime Minister Prachanda, during his recent visit to China, had pledged to endorse Xi's OBOR plan. "And we should not worry about it because what it does is basically connects hundreds of millions of people, hundreds of millions of markets. If somebody gains from it, that's perfectly fine". China's slowing economic growth has left fewer resources to spend overseas.

Some previous Chinese ventures overseas have turned sour. He notes that Chinese mining and construction projects in Pakistan have been attacked by rebels and dragged into separatist struggles against the government, while in Tajikistan, local political elites profited off a Chinese-backed highway by turning it into a toll road-with the cash streaming into their pockets.

"We have some serious reservations about it, because of sovereignty issues", said India's finance and defense minister, Arun Jaitley, at an Asian Development Bank meeting this month in Yokohama, Japan.


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