In 2023, Chinese President Xi Jinping hosted the Third Belt and Road Forum for International Cooperation in Beijing, marking a decade since the launch of the Belt and Road Initiative (BRI). In the Chair”s Statement, he committed to implementing reforms and institutionalizing efforts to tackle the various challenges and criticisms facing the connectivity initiative.
The forum prioritized practical cooperation, multimodal connectivity, the globalization of trade, collaboration in new and green transition technologies, as well as establishing global connectivity standards and enhancing accountability through institutional frameworks. In light of this, a comprehensive evaluation of the tangible outcomes from the forum and the promised reforms is now essential.
Launched in 2013 during state visits to Kazakhstan and Indonesia, the Belt and Road Initiative was initially named “One Belt, One Road.” It was rebranded to the BRI in 2015 to reflect a more inclusive vision, moving away from the perception of it being solely a China-centric endeavor. By 2017, China had invested $240 billion across 64 countries through various financial mechanisms, subsequently adding the Digital Silk Road (DSR) and the Health Silk Road (HSR) to the initiative.
The DSR and HSR represent the digital and health components of the BRI, respectively. From 2017 to 2024, China”s economic involvement under these frameworks reached $62 billion across 96 countries. From the initiative”s inception to July 2025, China”s total economic engagement through the various BRI structures is projected to reach $1.308 trillion, comprising $775 billion in construction contracts and $533 billion in investments.
As the BRI evolves in response to geopolitical dynamics and international cooperation demands, the recent forum highlights a crucial shift towards addressing past criticisms and improving the initiative”s overall efficacy.
