US to send representatives to Belt & Road forum

BEIJING -- The United States will send representatives to the upcoming Belt and Road Forum for International Cooperation, Chinese Vice Finance Minister Zhu Guangyao told a press conference Friday.

The forum, scheduled for May 14-15 in Beijing, will be a high-profile international meeting on the Belt and Road Initiative since China proposed it in 2013.

"The United States has recognized the importance of the Belt and Road Initiative," said Zhu.

China welcomes all countries, including the United States, to take part in the open and inclusive initiative, which will be conducive to the people's well-being and the world's peace and development, said Zhu.

The Belt and Road Initiative is a broad road in building "a community of common destiny for mankind," a goal that requires efforts from all countries, he said.

Both China and the United States should make their own contributions, he added.

Zhu also confirmed the initial results of a 100-day action plan for China-US comprehensive economic dialogue, covering agriculture, financial services, investment and energy.

Some highlights of the outcome are that China will allow imports of US beef; the United States is to import poultry from China. The United States expects China and other partners to import liquefied natural gas and China will allow wholly foreign-funded financial services to provide credit ratings in China.

Most of the agreements are expected to be implemented by July 16, Zhu said.

The two sides will begin discussion of a one-year plan on bilateral economic cooperation, according to him.

"The 100-day action plan's transformation from concept to practice shows the plan is feasible." Yu Jianhua, vice commerce minister, told the press conference.

Calling for extensive consultation, joint contributions and shared benefits, the Belt and Road Initiative focuses on promoting policy coordination, connectivity of infrastructure and facilities, unimpeded trade, financial integration, and closer people-to-people ties.

A total of 29 heads of state and government leaders will attend the forum.

More than 1,500 delegates, including officials, academics, entrepreneurs, representatives of financial institutions and media organizations from 130 nations, as well as representatives from more than 70 international organizations, will also attend.