The superpower has repeatedly said it is not seeking to trap anyone with debt and only has good intentions.
China's Belt and Road initiative must be green and sustainable, President Xi Jinping said at the opening of a summit on his grand plan today, adding that the massive infrastructure and trade plan should result in"high quality" growth for everyone.
Xi said in a keynote speech to the summit that environmental protection must underpin the scheme"to protect the common home we live in"."Operate in the sun and fight corruption together with zero tolerance," Xi added. While most of the Belt and Road projects are continuing as planned, some have been caught up by changes in government in countries such as Malaysia and the Maldives.
Debt sustainability has to be taken into account when mobilising funds, the finance ministry said in the report, which outlined a framework for use in analysing debt sustainability of low-income Belt and Road nations and managing debt risks. Xi promised to significantly shorten the negative list for foreign investments, and allow foreign companies to take a majority stake or set up wholly-owned companies in more sectors.China also aims to import more services and goods, and is willing to import competitive agricultural products and services to achieve trade balance.
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