China’s Silk Road plan is already taking shape
http://blogs.ft.com/beyond-brics/2015/04/15/chinas-silk-road-plan-is-already-taking-shape/
Andrew Colquhoun, Fitch Ratings | Apr 15 01:00 | Comment | Share
Over the weekend of 28-29 March 2015, a Chinese government “special leading group” was set up to oversee progress on the “Silk Road Economic Belt” and the “21st-Century Maritime Silk Road”, and an action plan was released.
China’s top leadership started talking about a “new silk road” almost as soon as it came into office. President Xi Jinping gave back-to-back speeches on the subject in Kazakhstan and Indonesia in September and October 2013. The Indonesia speech was also the occasion for Xi’s announcement of plans for an Asia Infrastructure Investment Bank (AIIB) with a capital of US$100bn to leverage into the scheme. Xi has also announced that China will provide further financial backing through a US$40bn Silk Road Fund.