The Belt and Road (B&R) has an essential leading role to play in global economic recovery and development amid the COVID-19 pandemic, according to a webinar held recently.

At the webinar, hosted by the National Academy of Development and Strategy at Renmin University of China (RUC), experts discussed the challenges and opportunities for the B&R amid the pandemic.

Governments of all countries are now shifting their policy focus to epidemic prevention and control while continuing to promote the construction of the B&R initiative, facing increased difficulties and risks, said Yu Hongjun, vice chairman of the Chinese People’s Association for Peace and Disarmament. We should be more prepared to adjust direction, optimize project quality, strengthen cooperation, resolve security risks, increase people-to-people exchange and guarantee people’s safety, thereby ensuring that B&R construction continues to progress and run smoothly.

B&R construction has an essential leading role in optimizing the global economic landscape, effectively responding to common challenges, and achieving universal development and progress.

Countries must cooperate actively to overcome the pandemic, said Phongthep Thepkanjana, former deputy prime minister of Thailand. The Thai people are grateful to the Chinese government and the Chinese people for their help in fighting against the pandemic. In the future, countries along the B&R should help each other and actively improve their public health systems.

B&R construction has been maturing, said Former Malaysian transport minister Ong Tee Keat. In terms of infrastructure development, China has shared much successful experience with the world, such as poverty alleviation, poverty reduction and transition to a digital economy. China is also more actively participating in international affairs, maintaining friendly and good-neighborly relations, and further realizing the development goals of the B&R initiative.

Liu Yuanchun, vice president of RUC, said that the Chinese government’s experience of cooperating with countries along the B&R in combating the pandemic has kindled friendship and a spirit of hard work that will lay a solid foundation for the joint construction of the B&R.

Dai Wensheng, a professor from the School of Finance at RUC, said that the 2020 Chinese government work report mentions high-quality joint construction of the B&R. Sticking to the principles of consultation, contribution and shared benefits, following market principles and internationally accepted rules, ensuring enterprises play their role as market entities, carrying out mutually beneficial cooperation, and channeling the healthy development of foreign investment—all these commitments have laid a solid foundation for international investment and are conducive to building the B&R into a stable channel coordinating political cooperation, public health, and all-around social and economic development.

From the perspective of energy investment, one of the cooperation objectives of the countries along the B&R is to jointly create an energy security area and promote the maintenance of global energy security, said Xu Qinhua, a professor at the School of International Relations at RUC. China adheres to the path of sustainable development and practices ecological civilization. Through the interconnection of energy infrastructure, the B&R guarantees regional energy security, realizes national energy security, ensures regional prosperity and stability, and promotes the world’s energy transformation.

Liu Xu, executive director of the International Energy Strategy Research Center at RUC, mentioned that ChinaRussia bilateral trade has shown a trend of growth despite the pandemic, especially in imports from Russia. Unlike the previous major imports of Russian energy and other raw materials, China also imported a lot of textiles, medical equipment and other supplies from Russia during the pandemic, representing the cooperation and mutual support of the two countries in the prevention and control of the pandemic.