In 2013, Chinese President Xi Jinping set out the strategy of rebuilding the Silk Road economic Belt adn a 21st Century Maritime Silk Road known as ''One Belt, One Road''. The ''One Belt'' pertains to the Silk Road Economic Belt and ''One Road'' which referes to the Maritime Silk Road.
The initiative aims to create the world's largest platform for economic cooperation, policy coordination, trade & finance collaboration, and social & cultural cooperation which caught the interests of the globla community. Tje Belt and Road as well gained support from 65 countries along the route, together with China hey begun to build innovative met hods to renew the Silk Road spirit and strengthen bilateral ties.
In 2014, China establsihed the $40 billion Silk Road fund to finance the initiative intended to improve trade transport links in Asia. Seeing the impressive progress which includes practical achievements and a number of projects, the Chinese President pledged at least 780 billion yuan ($113 billion) extra funding into the existing Silk Road fund in his keynote speech during the BElt and Road forum on May 2017.
The development of the initative also promotes peace, cooperation and offer a win-win strategy for all. The concept links the English dream to the global dream and has far-reaching strategic significance. China's ''One Belt, One Road'' project is possibly the largest overseas investmentdriver ever launched by a single country.
Ranging in 65 countries, the Belt and Road will spread projects across Eurasia using interconnected links such as ports, railway track, roads, pipelines, and ariports. According to oxford economics, these 65 countries are accounted for one third of global GDP adn 60% of the world's population or directly benefiting 4.5 billion people for this project's development.
According to the Chinese President on the 2017 Belt and Road forum, total trade between China and other Belt and Road countries in 2014 - 2016 has exceeded $3 trillion,a nd China's investment in these countries has surpassed $50 billion.