Chinese technologies connect Belt and Road: Economic Watch

Dhaka,  Mon,  21 August 2017
Published : 14 May 2017, 20:49:33
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Chinese technologies connect Belt and Road: Economic Watch

BEIJING, May 14 (Xinhua): For centuries, the "Four Great Inventions of Ancient China"-namely compass, gunpowder, papermaking and printing-have been celebrated as technologies that have made a significant contribution to world civilization.

Today, novel technologies have once again shortened the physical as well as cultural distance between different parts of the world.

In a video that went viral online recently, foreign students in China have redefined the "four great inventions" of modern age: bike-sharing services, e-commerce, high-speed trains and mobile payment systems.

While technically speaking, these are not purely Chinese inventions, there's no doubt that Chinese innovation has made these technologies even more important to a closely connected world.

For instance, buyers from Europe can easily purchase Chinese goods through e-commerce services provided by Alibaba, China's Internet giant. With an extensive infrastructure network and multi-currency payment systems provided by Chinese firms, customers worldwide can have enjoyable and convenient online shopping experiences.

"Chinese people have a very good life, you can use the apps to benefit yourself a lot... In China there's a lot of good stuff that my country doesn't have," a student from Thailand said in the video, which was jointly produced by the Institute of Silk Road Studies at Beijing Foreign Studies University and the People's Daily.

Students from more than 20 countries and regions said that technologies including Alipay (Alibaba's mobile payment system), bike-sharing apps and high-speed trains are among the things that they most want to bring back to their homelands.

Their dreams are coming true. In the same way China transported silk and tea via the ancient Silk Road, the country is now sharing knowledge and expertise via the Belt and Road Initiative.

The initiative proposed by China in 2013 aims to build a trade and infrastructure network connecting Asia with Europe and Africa along and beyond the ancient Silk Road trade routes.

Construction has started or neared completion on some large infrastructure projects along the Belt and Road, including the Jakarta-Bandung high-speed railway in Indonesia and the China-Laos railway.
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