Prominent figures and others who are less well-known have all played roles<\/b>
\nBehind China\u2019s much-touted \u201cBelt and Road Initiative\u201d are many prominent and other less well-known names and faces. The government is hosting an international summit in Beijing later this month to discuss the global trade development strategy. Here are some of the key figures behind the initiative. Xi Jinping is the driving force behind the scheme, which was his brainchild. Xi first spoke publicly about the strategy in 2013 while visiting nations in Central and Southeast Asia. He championed the initiative to increase global economic connectivity through a \u201cNew Silk Road\u201d and maritime belt. Xi expects the ambitious project to allow trade volume between China and \u201cBelt and Road\u201d countries taking part in the initiative to reach US$2.5 trillion in about a decade. Jin is a key player in the \u201cBelt and Road Initiative\u201d. With deep pockets and US$100 billion in initial registered capital, the development bank issued over US$1.7 billion in loans last year for major projects. The lender was launched in October 2014 partly as a counterweight to US-led banking institutions such as the World Bank. Jin has said the \u201cBelt and Road Initiative\u201d is not just focused on economics, but is more a \u201cstrategic, geopolitical issue\u201d to help achieve peace and prosperity. Jin has extensive experience in global banking. He has previously served as the chairman of the China International Capital Corporation, vice-president of the Asian Development Bank and vice-minister of finance in China. He became president of the AIIB in January last year. As chairwoman of the US$40 billion Silk Road Fund, which will help finance infrastructure projects for the \u201cBelt and Road Initiative\u201d, Jin is a crucial figure. While the initiative\u2019s projects are aimed at boosting trade and investment, they rely heavily on the support of the fund, which was officially launched in January 2015. Jin has previously said the fund was a for-profit entity, so projects it backs need to be commercially sustainable, allowing the fund to \u201cexit them once they come to market\u201d. She has advocated that the fund support economic development in countries involved in the initiative. The fund should also bolster industrial cooperation between China and other nations and seek to invest in projects that are environmentally friendly, she said. The fund\u2019s first scheme was a US$125 million investment in a Chinese company developing an energy project in Pakistan. Before heading the fund, Jin spent decades at the People\u2019s Bank of China, serving most recently as the bank\u2019s assistant governor. Wang Yi has been instrumental in selling the \u201cBelt and Road Initiative\u201d as a way of increasing international economic cooperation. Wang, who has served as foreign minister since March 2013, has been the ambassador for the initiative around the globe, visiting countries along the intended \u201cNew Silk Road\u201d to highlight the programme\u2019s benefits. He has so far focused on how the initiative has increased trade investment, accelerated production capacity, kick-started an international infrastructure network and helped cultural exchanges. He has emphasised that the initiative does not translate into any form of political intervention by China in other nations, saying it is not a \u201ctool of geopolitics\u201d. This led to the renaming of the scheme from \u201cOne Belt, One Road\u201d to the \u201cBelt and Road Initiative\u201d to avoid suggestions that the focus of the strategy was China alone. Xu Shanda first laid the groundwork for the initiative in 2009 in his role at the tax department when he proposed a \u201cChinese Marshall Plan\u201d, mirroring the US aid programme to help rebuild Europe after the second world war. Xu\u2019s proposal recommended China use its large foreign reserves to invest in developing countries\u2019 infrastructure, including railways, highways and energy projects. The \u201cBelt and Road Initiative\u201d follows in the footsteps of this initial proposal, with Chinese funding and investment in infrastructure projects across dozens of countries. Gao was heavily involved in the roll-out of the \u201cBelt and Road Initiative\u201d. He was succeeded as commerce minister earlier this year by Zhong Shan, a former vice-governor of Zhejiang province. Gao said the initiative provides advantages for both China and participating countries, injecting \u201cfresh vitality into pan-Asia and Eurasia regional cooperation\u201d. As a channel for China to open itself up to the global economy, Gao linked Chinese foreign investment to improved economic cooperation with other nations. He also said the initiative would help stabilise the scale and speed of foreign investment into China, creating jobs and business in the mainland economy. Seen as Xi\u2019s right-hand man on finance, Liu is key to driving the success of the \u201cBelt and Road Initiative\u201d. Liu, 65, is also the vice-chairman of the National Development and Reform Commission, a central planning agency with sweeping control over the Chinese economy. Liu is a member of the president\u2019s inner circle and his voice will be significant in influencing the implementation of the \u201cBelt and Road Initiative\u201d. As someone who is viewed by analysts as taking a more global view of China\u2019s economy, Liu will be influential in helping the programme increase China\u2019s role in the global financial system. Xiao was only appointed last year, but will take a key role in the initiative. Xiao hails from Liaoning province and previously served as the director of the State Administration of Taxation, as well as serving under Premier Li Keqiang. He has recently signalled flexibility on China\u2019s debt levels, indicating the country is likely to increase government spending to further the economy\u2019s furious growth, feeding into the needs of the \u201cNew Silk Road\u201d programme.<\/p>\n

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Sentiment rank: 1<\/div>\n

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