On November 25, “ Tao Xiang International Finance Lectures(No.30），jointly organized by the School of Finance of Renmin University of China (RUC) and the International Monetary Institute (IMI) was held in Renmin University of China. Qu Fengjie, researcher at the Macroeconomic Research Institute of the National Development and Reform Commission (NDRC), delivered a speech on “Strategies for the Belt and Road Initiative (BRI) Financing”. The lecture was hosted by Wang Chenxi, Assistant Professor from the School of Finance at RUC. Professor Luo Yu, Deputy Secretary of the Party Committee at RUC’s School of Finance, Lu Dong, Associate Professor from the School of Finance and Wang Jingye, Assistant Professor from the School of Finance at RUC, participated in the discussion.

Initially, Qu Fengjie outlined the overall framework, major achievements and challenges of the BRI. She stated that the current stage has resulted in enhanced strategic trust, progress in key project with exemplary effects, facilitation of cooperation for mutual benefits, achieving common development, improving service system, reinforcing financial support, and upholding open and inclusive cultural exchanges. However, some challenges remains. Our next step is to progress towards institutionalization, multilateralism and regularization.

Further, she highlighted the current status and characteristics of financial support for BRI. Firstly, she emphasized that China’s policy and developmental financial institutions are the most crucial financial investors for the Initiative. Secondly, significant contributions to BRI financing come from large commercial banks. Thirdly, international financial institutions and developmental institutions from developed countries are also key contributors the Initiative, among which emerging multilateral development financial institutions such as the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB) are increasingly influential participants.

Finally, she proposed several suggestions to build a durable. stable and sustainable financial support system for BRI based on the preceding analysis. Firstly, integrating and enhancing the financial support system for the BRI is crucial, involving consolidating resources from diverse financial entities and diversifying financial products. Moreover, these recommendations include bolstering financial collaboration and expanding financial openness, which encompasses advancing regional financial cooperation and formulating specific financing strategies tailored to project types. Additionally, in the context of infrastructure investment and financing systems, it is vital to institute a 'partnership cooperation framework' aligned with the developmental priorities and plans of partner countries. This also involves refining the system for diversified investment and financing institutions, setting up robust rules and systems for infrastructure investment and financing, exploring and establishing high-quality infrastructure standards, and creating a risk management framework for infrastructure projects.

Translated by Zhang Yao