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China Development Report on South-South Cooperation 2018

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China Development Report on South-South Cooperation 2018 China Development Report on South-South Cooperation 2018 South-South Cooperation and the Belt Road Initiative Edited by Li Ronglin and Ren Yonglei Acknowledgements “China Development Report on South-South Cooperation 2018: the Belt and Road Initiative and South-South Cooperation” is mainly aimed at describing the economic and trade relation between China and developing countries in the context of the Belt and Road Initiative. In addition to traditional trade, investment, and financial cooperation as well as foreign aid, this report has focused on some new areas closely related to the “five linkages” put forward in the Belt and Road Initiative (BRI), which include infrastructure and production capacity cooperation between China and developing countries along the Belt and Road (B&R), the status quo, opportunity and challenge in the development of China oversea Economic and Trade Cooperation Zone (ETCZ), the role of two project cooperation modes, i.e. private and public partnership (PPP) and resources financing, in the BRI and SSC. It is expected that based upon these analysis we can reveal the close relationship between the BRI and SSC. It shows that SSC has laid solid foundation for implementation of the BRI while the BRI will provide new opportunities for SSC. This report is the sixth annual report compiled by Study Center on SSC of Nankai University (SCSSC-NKU). The chapter authors are as the following: chapter one: Introduction, written by professor Li Ronglin, SCSSC-NKU; chapter two: interrelationship between BRI and SSC, written by Dr. Zhou Taidong, Head of Global Development Research Division, Center for International Knowledge on Development, Development Center of the State Council of China; chapter three: the trade cooperation between China and developing countries along the B&R, written by professor Li Ronglin and Dr. Zhang Huiling, Institute of International Economics, NanKai University; chapter four: the investment cooperation between China and developing countries along the B&R, written by professor Zhu Tong and Dr. Fan Nana, Institute of International Economics, NanKai University; chapter five: China’s foreign aid under the BRI, contributed by professor Huang Meibo, Director of International Development Cooperation Academy, Shanghai University of International Business and Economics, and Dr. Song Dandan in the Academy; chapter six: the financial cooperation between China and developing countries along the B&R, contributed by Mr. Meng Gang, professor of Beijing University and research fellow of Zhejiang University, deputy Director-General of Law and Compliance Department, China Development Bank; chapter seven: the production capacity cooperation between China and developing countries along the B&R, by Dr. Yu Mingyan, associate professor, Tianjin Municipal School of Communist Party Commission; chapter eight: the infrastructure cooperation between China and developing countries along the B&R, by Mr. Zheng Zhaoyang, associate professor, Institute of International Economics, NanKai University, and Dr. Yuan Lilin at the institute; chapter nine: China’s oversea ETCZ along the B&R, by professor Li Ronglin, Dr. Xu Bangdong and Ms. Cui Mei, Institute of International Economics, NanKai University; chapter ten: the project cooperation between China and developing countries along the B&R, written by Mr. Gu Xin, associate professor, Zhejiang Industrial and Commercial University, and Dr. Li Lili, Institute of International Economics. I would like to express my sincere thanks for their excellent and important work and contributions. I would also like to thank again to UN Office for South-South Cooperation, China International Center for Economic and Technology Exchange, and China Commercial and Trade Press, thank for their supports as always. The purpose of the report is still to provide empirical analysis or factual evidences for the cooperation in different fields and sectors between China and countries especially developing ones along the B&R. However, normative studies also extensively exit in the discussion of future development and policy recommendation about the BRI and SSC, which fully show the authors’ independent points of view and their high perspicacity. We believe that it is helpful and instructive to have controversial discussion. Li Ronglin Study Center on South-South Cooperation, Nankai University May 2, 2019 Table of Contents 1. Introduction ..................................................................................................................... 8 1.1 Research Scope of the Report ........................................................................................... 8 1.2 Thesis of the Report ............................................................................................................. 9 1.3 Main Content of the Report ............................................................................................... 9 2. SSC and the BRI ............................................................................................................ 13 2.1 The interrelationship between SSC and BRI .............................................................13 2.2 New situations facing SSC ................................................................................................13 2.2.1 Significant changes in balance of power between the North and the South ... 13 2.2.2 Changes of key players, content and objectives of SSC ............................................. 15 2.2.3 Change in the forms of SSC ................................................................................................... 16 2.2.4 Strengthened institutional development of SSC .......................................................... 17 2.3 Major challenges facing SSC ............................................................................................17 2.3.1 Imbalance of development and the difference in interests and appeals ........... 17 2.3.2 Lack of institutionalization and weak organizational structures ......................... 18 2.3.3 SSC faces strategic vigilance and containment by countries of the North ........ 18 2.3.4 South-South exchanges need to be further strengthened ....................................... 19 2.4 the interrelationship between BRI and SSC ..............................................................20 2.4.1 SSC constitutes an important basis for BRI ................................................................... 20 2.4.2 BRI provides SSC with new impetus and development opportunities .............. 22 2.5 Summary ................................................................................................................................30 3. Trade Cooperation between China and BRI Developing Countries ........... 32 3.1 The Trade Volume and Its Growth ................................................................................32 3.2 Regional and Product Structure of the Trade ...........................................................33 3.2.1 Region Structure of the Trade ............................................................................................. 34 3.2.2 Product Structure of the Trade ........................................................................................... 36 3.3 Competitiveness and Complementarity in Bilateral Trade .................................41 3.3.1 Trade Complementarity Index ............................................................................................ 41 3.3.2 Intra-industry Trade Index................................................................................................... 42 3.3.3 Trade Competitiveness Index .............................................................................................. 44 3.4 Concluding Remarks..........................................................................................................46 4. Investment Cooperation between China and BRI Developing Countries 49 4.1 Investment of China and Developing Countries.......................................................49 4.1.1 Overview of Bilateral Investment ...................................................................................... 49 4.1.2 Two-way Investment of China and Developing Countries ...................................... 52 4.1.3 Investment Characteristics and Dilemmas between China and Developing Countries ................................................................................................................................................ 54 4.2 Investment between China and Countries along the B&R ...................................56 4.2.1 An Overview ............................................................................................................................... 56 4.2.2 New Features of Investment under the BRI .................................................................. 60 4.3 The Economic Effect of China’s Investment in Countries along the B&R ........62 4.3.1 The Impact of China’s OFDI on the Economic Growth of Countries along the B&R ........................................................................................................................................................... 62 4.3.2 The Impact of China’s OFDI on the Employment of Countries along the B&R 64 4.4 Development of SSC under the BRI ...............................................................................66 4.4.1 BRI Path Provides Reference for SSC ............................................................................... 66 4.4.2 BRI Financing
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