Coordinating Domestic Regional Opening Policies with the Belt and Road Initiative

Coordinated regional economic development is not only an important prerequisite for the sound development of the national economy, but also a necessary requirement for China to eliminate poverty and achieve common prosperity of Chinese people. Improving the opening-up level of underdeveloped areas is very critical for narrowing regional gaps and achieving coordinated regional economic development. Coordinating the development of the multi-modal domestic transport network and the construction of national key transport routes with the six major Belt and Road international economic cooperation corridors may enable logistics at home and abroad to be linked with the Belt and Road region, advance efficient flows and allocations of the B&R economic factors and promote regional economic opening-up and coordinated development. China is vigorously implementing thegoing global strategy in order to expand outward foreign investment and international cooperation on production capacity. As there are certain similarities on comparative advantages and industrial development stages between central and western China and the Belt and Road region, the construction of domestic transport routes may advance the opening up in central and western areas and help them to undertake industrial transfer from the eastern coastal areas of the country. It is of great significance to long-term stability and sustainable development of China’s economy to, through connecting the Belt and Road Initiative, accelerate the construction of domestic transport routes, industrial layout coordination and coordinated development of open economy among different areas in China.