Research on the Current Status of Financial Connectivity in the Belt and Road Initiative

Abstract

After the 2008 global financial crisis, China's sound macroeconomic regulation boosted its economic recovery and international influence, on the basis of which President Xi Jinping proposed the Belt and Road Initiative (BRI) in 2013. Adhering to the principle of consultation, cooperation and shared benefits, the BRI has become a vital international cooperation platform focusing on the "Five Connectivities", with financial connectivity as its core pillar. Thanks to the deepening of infrastructure and financial cooperation, a bank loan-dominated diversified financial support system for BRI financial connectivity has taken shape with expanded scale and optimized structure. Yet it still faces severe bottlenecks due to growing global uncertainties, deglobalization and unbalanced financial development among participating countries. As high-quality financial connectivity is critical to advancing the BRI and deepening international economic and financial cooperation, this paper analyzes the current status of financial connectivity between China and BRI countries, identifies its key influencing factors and puts forward targeted recommendations, aiming to provide a reference for the healthy development of BRI financial connectivity and mutual benefit of all participating countries.