China's Xi says Belt and Road summit reaches consensus, achieves positive outcomes

Xi Jinping

The Chinese foreign ministry's assertions come a day after India boycotted China's high-profile BRF, taking its protest over the CPEC to a new level.

India has voiced displeasure at the China-Pakistan Economic Corridor, a Belt and Road project aimed at linking northwestern China to the Arabian Sea.

On the eve of the OBOR forum, Indian issued a statement saying it can not "accept a project that ignores its core concerns on sovereignty and territorial integrity".

"China has welcomed the participation of India in the Belt and Road project".

Through infrastructure development under the initiative, China aims to broaden its sphere of economic influence and win allies around the world.

"It is not directed at any third parties, not relevant to disputes over territorial sovereignty and does not affect China's position on the Kashmir issue", a statement by the ministry said.

Xi told visiting Cambodian Prime Minister Hun Sen that China attaches great importance to ties with Cambodia and stands ready to enhance the comprehensive strategic cooperation and contribute to regional peace and prosperity.

The strategy consists of two components: land-based "Silk Road Economic Belt" (SREB) and ocean-based "Maritime Silk Road" (MSR). We won't set a political agenda. She said China always followed the principle of extensive consultation with other countries on the project over which India has sovereignty concerns.

Hundreds of delegates are attending the forum, including 29 heads of state. The China Development Bank had already earmarked US$890 billion for some 900 projects.

India is dead against the CPEC, a vital part of the One Belt One Road initiative.

On Saturday, Pakistan and China inked new deals worth almost $500 million, covering airport, port and highway construction, it said.

Gwadar Port in southwestern Pakistan is at the Strait of Hormuz, which is pivotal to secure an energy route for China.

He also pledged $8bn in aid to developing countries and global organization along the belt and road for education and humanitarian work.

Leaders attending the roundtable on Monday also issued a joint communique, in which they stated a "shared commitment to building an open economy, ensuring free and inclusive trade (and) opposing all forms of protectionism in the framework of the Belt and Road Initiative".

Giving a snub to China over One Belt One Road (OBOR) project, India and Japan are together planning to start several infrastructure projects across Africa, Iran, Sri Lanka and Southeast Asia.

The report also said India's decision to shun the event was "regrettable".

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