At a historical study meeting of the ancient land and sea Silk Roads, the president told Communist Party of China Central Committee members, “The Belt and Road Initiative, though initiated by China, is not only about China.

“I hope people in all countries along the Belt and Road will feel the benefit brought by the initiative.”

Xi proposed the initiative in 2013, envisioning a trade and infrastructure network that would connect Asia with Europe and Africa along the ancient land and sea routes.

“While taking care of our own interests, we will give more consideration and care to the interests of other countries,” he said.

Analysts say the initiative covers at least 4.4 billion people in more than 60 countries, or 63 per cent of the global population. – China Daily

Korean firms shifting

overseas focus to VN

South Korea’s consumer goods firms are shifting their overseas focus to Vietnam as their business in China reaches its limits, increasing investment and aggressively opening new branches, according to industry watchers on Monday.

With a population of over 90 million and 60 per cent in their 30s or younger, Vietnam stands out as a market promising robust growth. A recent report by the Korea Trade-Investment Promotion Agency said the government is pursuing expansion of consumer goods exports to Vietnam to make up for the country’s slowing trade, describing Vietnam as a good opportunity for local firms.

CJ Group, whose affiliates range from entertainment to food and beverages, made an early start, opening an office in Vietnam in 1998. The group’s chairman, Lee Jay-hyun, declared in 2012 that the conglomerate will build a “third CJ” in Vietnam following South Korea and China. It is currently engaged in seven different sectors and maintaining its |top position in three of them – bakery, home shopping and movie theaters. |- The Korea Herald-