Chinese Silk Road

11.6.2015

Question for written answer E-009644-15
to the Commission
Rule 130
István Ujhelyi (S&D)

China is working on a new megaproject that will span both Eurasia and the oceans to connect the Asian, European and African states once linked by the land and sea routes of the former Silk Road. The priority for Chinese diplomacy in 2015 is clearly to begin to implement the ‘belt and road’ strategy and to start to develop the 21st century maritime Silk Road and the New Silk Road economic belt. The economic belt would connect China and the other Central and West Asian countries to Europe by land, while the maritime route would run through South East Asia to Europe and Africa. The projects are to be funded by China’s Silk Road Fund, for which China has already allocated USD 40 billion. About 65% of this amount consists of foreign exchange reserves, while the remaining funds were provided by the China Investment Corporation (a sovereign wealth fund), the Export-Import Bank of China and the China Development Bank.

— What is the European Union’s attitude to the Chinese project?

— Has any study or assessment been made concerning the possible advantages and disadvantages this project has for the European community?

— Does the European Union have a related programme?