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China's economic and trade ties with countries that are part of the Belt and Road initiative have significantly strengthened over the past decade, according to Sheng Qiuping, vice minister of commerce, who recently said from 2013 to 2021, the annual trade volume between China and such countries expanded from $1.04 trillion to $1.8 trillion—a rise of 73 per cent.
"Despite the protracted COVID-19 pandemic and complicated international situation, the building of the Belt and Road Initiative continues to demonstrate strong resilience and vitality, injecting strong impetus into global openness and cooperation and world economic recovery," Sheng told a press conference.
During this period, China's direct investment in countries along the Belt and Road totaled $161.3 billion dollars, while 32,000 enterprises were established in China by these countries, with a combined investment of $71.2 billion dollars, Sheng was quoted as saying by official Chinese media.
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