Learning keywords is one of the best ways to keep abreast of the latest developments in a country. The China Academy of Translation, a research institute affiliated with the China International Publishing Group, the country's leading international publisher, regularly analyzes prevailing Chinese terms in various sectors and translates them into a number of foreign languages ranging from English to Arabic. In each issue, Beijing Review presents a selection of these keywords to help readers know more about China.
Silk Road Fund
On November 8, 2014, President Xi Jinping announced that China would invest $40 billion to set up the Silk Road Fund. The Fund will support the development of infrastructure and resources, and industrial cooperation, among other projects, in the countries along the land and sea Silk Roads. It will serve as a complement to, rather than a substitute for, other global and regional multilateral development banks, and will operate under the existing international economic and financial order.
Instead of simply dispensing economic aid, the fund will create major development opportunities for all through increased connectivity. It is open and welcomes the active participation of investors from Asia and beyond. Its establishment will spur the implementation of the Belt and Road Initiative and promote regional connectivity.
Developing a new model of major-country relations between China and the United States
Meeting with President Barack Obama of the United States at the Annenberg Retreat in California in June 2013, President Xi Jinping of China proposed building a new model of major-country relations. This new model, in his words, boils down to three principles: (a) no conflict or confrontation, which is a prerequisite; (b) mutual respect, which provides the basis for healthy major-country relations; and (c) mutually beneficial cooperation, which provides the means to turn this vision into a reality.
The Xi-Obama meeting at Yingtai
Chinese President Xi Jinping had a candid, relaxed, and informal meeting with U.S. President Barack Obama on the evening of November 11, 2014 at Yingtai, an island with ancient palace buildings within the Zhongnanhai compound. They discussed issues concerning Sino-U.S. relations and other major global and regional issues of mutual concern.
The two heads of state had a long, relaxed conversation while strolling at Yingtai. Xi briefed Obama on the history of Yingtai which could be seen as a mirror to reflect today's reality. The DNA of traditional Chinese culture is, in Xi's words, embedded in contemporary Chinese thinking and in the governance strategies of the Chinese Government. Diverging national contexts of the two countries with regard to history, culture, development paths, and stages of development, he noted, underscore the importance of mutual understanding, mutual respect, and tolerance for differences in the search for common ground and lasting peace. In response, Obama acknowledged that the talk had enabled him to gain a better insight into China's realities and the governance philosophy of the Chinese Government and its leaders, and a better understanding of the aspirations of the Chinese people for national unity and stability. Debunking the notion that the United States seeks to contain China, he reiterated his willingness to have a candid dialogue with China so as to foster mutual understanding, and welcomed China as a constructive player in international affairs in the shared endeavor to address global challenges and promote peace and security in the Asia-Pacific region and the world.
The talk at Yingtai, a continuation of the open-necked informal summit at the Annenberg Retreat in California, represented another innovative diplomatic engagement at the most senior level between China and the United States. The event helped both sides foster mutual trust and better gauge each other's intentions at a strategic level, and further demonstrated the imperative for both governments to work towards a new model of major-country relationship.
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