Driven by the Belt and Road Initiative, regional economic integration has accelerated. Chinese enterprises have built 56 economic and trade cooperation zones in over 20 countries, creating about 180,000 jobs and about 1.1 billion dollars in tax revenue, the report said.

SHARED FUTURE FOR ASIA

The destinies of the Asian countries have never been so closely intertwined as they are in today's globalized world. To boost regional integration, Xi called for building a community with a shared future for Asia in his speech at the BFA annual conference 2017.

Ready to share the dividends of its growth, China put forward the Belt and Road Initiative in 2013 and led the establishment of the Asian Infrastructure Investment Bank to address infrastructure needs across the continent.

"The Belt and Road Initiative is closely related to economic globalization and will enhance the competitiveness of Asia. That's why the initiative should be given priority and actively promoted among the Asian economies," reads the Asian competitiveness report.

The China-Pakistan Economic Corridor, a flagship project under the initiative, has not only improved local infrastructure but is extending toward Afghanistan, reducing poverty and bringing better prospects for local people.

The BFA annual conference 2018 runs from April 8 to 11. Globalization and the Belt and Road Initiative are among the key topics for discussion.

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