China creates information bank serving Belt and Road

China has debuted a package of information services that could become a key information bank helping progress the Belt and Road Initiative.

The new "Xinhua Silk Road" products, designed and managed by China's national Xinhua News Agency, were launched by the agency in Beijing on Thursday.

The products aim to provide a platform for commodity trade and investment cooperation for governments and companies of countries along the Belt and Road, Xinhua President Cai Mingzhao said.

Xinhua also released an index on the technology, infrastructure and investment environment of Belt and Road countries on Thursday.

With 41 sub-indices, the index analyzes the technology levels, economic development, as well as political, social, communication and transportation conditions of countries along the Belt and Road routes.

Singapore, China, Malaysia, the United Arab Emirates and Russia are the top-performing countries among those surveyed, the index showed.

What is it?

The "Xinhua Silk Road" is Internet-based information products, currently available in Chinese and English. It includes four major products and services - the Silk Road Database, Xinhua Credit Reports, Consulting & Thinktank Services and the interactive business match-making Xinhua Silk Road IM System.

The database includes information on laws and regulations, latest policies, macroeconomic development, project information and investment risk assessment in countries along the Belt and Road.

The credit information service offers credit and risk assessment reports on countries, companies and investment projects as references for investment decisions of companies.

The consulting and think tank service provides clients with personalized decision-making consultations by relying on Xinhua's wide-reaching global information networks and professional economic analysts.

Another innovative feature is a deal-making platform designed to facilitate online business negotiations and promote business connections for investment projects.

Why was it launched?

Exchanges, mutual understanding and useful information are vital for cooperation among countries along the Belt and Road. The product serves just that end.

At the launch ceremony on Thursday, Cai said that countries along the Belt and Road cover a vast territory, with each country and region having different political systems, levels of development, laws and regulations, social customs and cultures.

The Belt and Road Initiative, proposed by China in 2013, is a trade and infrastructure network that includes the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

The network connects Asia, Europe and Africa and passes through more than 60 countries and regions with a population of about 4.4 billion.

"Keeping the flow of information convenient and smooth will be a significant basis for realizing the visions of policy coordination, facilities connectivity, trade facilitation, financial integration and people-to-people bonds," he said.

"It will be very difficult for companies to achieve success in overseas markets without prior knowledge and studies of the countries or partners they do business with," said Zhu Jialin, vice president of China CITIC Bank.

The products' emergence has also highlighted China's rising investment as well as booming trade with countries along the Belt and Road.

Investment by Chinese companies in 48 countries along the Belt and Road amounted to 4.86 billion U.S. dollars in the first five months of 2015, up 3.7 percent year on year, according to the Ministry of Commerce.

China's trade with countries covered by the Initiative has been robust. The nation's exports to Bangladesh, Pakistan, Israel and Saudi Arabia saw average growth of 17 percent during the period, eclipsing the 0.9-percent general export growth in the first half.

How does it help?

"The Belt and Road Initiative is quite a new concept. Many people still don't fully understand what is it and how it's being carried out. The Xinhua Silk Road information products will meet their various demands for information so that more professionals can join in the construction of the Belt and Road," said Andrey Denisov, Russian ambassador to China.

"The products will also enhance transparency in economic and trade cooperation among countries along the Belt and Road, and will be of great interest to companies," Denisov said.

Randa Elwan, director of Middle East News Agency's office in Beijing, said the Belt and Road Initiative makes her feel that China's development is closely related to that of Egypt and the Middle East, a region the ancient Silk Road once covered.

"The governments and companies in these countries are very interested in any information and news concerning the Belt and Road," she said.

"Connectivity is the keyword of the Belt and Road Initiative, and free flow and sharing of credible information is fundamental to connectivity," said Du Ping, executive deputy head of the State Information Center.

Xinhua has sent sales managers to countries along the Belt and Road and dispatched business representatives across the nation to offer customized research and consulting services to investors drawing on the strength of its vast national and global presence.

Users can search for information on the Xinhua Silk Road Website, which has an interactive map.

Xinhua will interact with users and make timely adjustments to offer professional, quality and practical products, according to Cai.