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ures are consistent with the top-line measured GDP growth number. For example, production and
supply of electricity, thermal power, gas and water increased by 7.1 percent in the quarter. Pl
us, value-added index of transport, storage and post increased by 7.3 percent.
A closer look at the highest growth sectors shows that the economy is moving toward the long-term goal of shif
ting away from a development strategy based on heavy investment in industry and
infrastructure to one based on services and domestic consumption. Also, more productive industries that tur
n out higher-value added goods are growing at a much faster rate than traditional heavy industry.
Among large companies, State-owned enterprises grew 4.5 percent yea
r-on-year while shareholding enterprises grew almost twice as fast, at 7.8 percent. So, stro
ng progress is being made toward the goal of promoting private enterprise, which was re
inforced by many policies announced at last month’s meeting of the National People’s Congress.
public remarks made by Xi from September 2013 to July 2018.
Since Xi proposed the BRI in 2013, he has spoken about the initiative on many occasions.
The discourses have provided guidance for the country to develop international cooperation, i
mprove global economic governance and promote the building of a community with a shared future for mankind.
Russia – There is no alternative to the peaceful solution of nuclear and
other issues on the Korean Peninsula, Russian President Vladimir Putin said Thursday, follow
ing a meeting with top leader of the Democratic People’s Republic of Korea (DPRK) Kim Jong-un.
Russia, for its part, is ready to continue cooperation to reduce tensions on the peninsu
a, and to strengthen security in Northeast Asia as a whole, said Putin at a reception in honor of Kim.
Putin said he was convinced that with active participation of the international community and all inte
rested states, the goal of ensuring lasting peace, stability and prosperity on the Korean Peninsula can be achieved.
nal proportions. But nothing can obliterate the tangible benefits the development initiative has brought. In less than six
years, the nascent Belt and Road are already changing development landscapes in multiple places and dime
nsions. Thanks to the initiative, East Africa has seen its first expressway, the Maldives its first cross-sea bridge, Belar
us its own car-manufacturing enterprise, and landlocked Kazakhstan finally has access to the sea.
And while China-Cambodia trade may not look to be in perfect balan
ce at this point, Belt and Road cooperation between the two neighbors is laying a solid fo
undation for the latter’s future progress. Take the Sihanoukville Special Economic Zone for instance. An exem
plary project under the framework of the Belt and Road Initiative, it is expected to host 300 enterprises, create 100,0
00 industrial jobs, and serve as a resident-friendly new community housing 200,000 people.