According to London-based CEBR consultants, BRI is likely to increase the world GDP by $7.1 trillion per annum by 2040, and that "benefits will likely to be widespread", as global trade increases from increasing infrastructure that reduces "frictions that hold back world trade". Numerous studies conducted by the World Bank have estimated that BRI can boost trade flows in 149 participating countries by 4.1 percent, as well as cutting the cost of global trade by 1.1 percent to 2.2 percent, and grow the GDP of East Asian and Pacific developing countries by an average of 2.6 to 3.9 percent. The Xi Jinping Administration calls the initiative "a bid to enhance regional connectivity and embrace a brighter future." The project has a target completion date of 2049, which will coincide with the centennial of the People's Republic of China (PRC)'s founding. The initiative was incorporated into the Constitution of China in 2018. Examples of Belt and Road Initiative infrastructure investments include ports, skyscrapers, railroads, roads, bridges, airports, dams, coal-fired power stations, and railroad tunnels. "Belt" is short for the " Silk Road Economic Belt," referring to the proposed overland routes for road and rail transportation through landlocked Central Asia along the famed historical trade routes of the Western Regions whereas "road" is short for the " 21st Century Maritime Silk Road", referring to the Indo-Pacific sea routes through Southeast Asia to South Asia, the Middle East and Africa. Xi originally announced the strategy as the "Silk Road Economic Belt" during an official visit to Kazakhstan in September 2013. As of August 2022, 149 countries were listed as having signed up to the BRI. The BRI forms a central component of Xi's "Major Country Diplomacy" ( Chinese: 大国外交) strategy, which calls for China to assume a greater leadership role for global affairs in accordance with its rising power and status. It is considered a centerpiece of the Chinese paramount leader Xi Jinping's foreign policy. The Belt and Road Initiative ( BRI, or B&R ), formerly known as One Belt One Road ( Chinese: 一带一路) or OBOR for short, is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 150 countries and international organizations. Five Principles of Peaceful Coexistence.Visa policy of China ( Hong Kong Macau).Visa requirements for Chinese citizens ( Hong Kong, Macau).State Administration of Foreign Experts Affairs.International Military Cooperation Office.International Development Cooperation Agency.Diplomatic missions of China / in China.Ministry of Foreign Affairs Minister: Wang Yi ( State Councilor) Spokespersons Diplomatic missions.Central Foreign Affairs Commission Director: Xi Jinping Deputy Director: Li Keqiang Secretary-General: Yang Jiechi.
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