A fund free from political interference

IFF board member Zhao Xiaoyu, vice-chairman and secretary-general of the Silk Road International Association (SRIA), says that establishing the SRIA Fund will build a non-political and multilateral platform for win-win co-operation
IFF China 2021 2-07
IFF China 2021
This article is part of The IFF China Report 2021

The term ‘Silk Road’ in the Silk Road International Association (SRIA) refers not only to the route itself, but also to the co-operation through which mutual exchanges can be boosted. 

The SRIA is a market-oriented multilateral platform and a private sector financial institution that supports the development of the Belt and Road Initiative. Given that strong notions of sovereignty and political complexion permeate institutions such as the World Bank, the International Monetary Fund and the Asian Development Bank (ADB), the SRIA now plans to launch the SRIA Fund away from political orientation.

Zhao Xiaoyu - IFF China 2021 headshot 2-07
Zhao Xiaoyu

While investment in China by the World Bank and ADB has sometimes overlooked the needs of specific enterprises, China has truly benefited from the support provided by these multi-lateral organisations. In spite of that, we should always try to avoid imposing our will on others. 

Chinese entrepreneurs conducting business overseas should closely co-operate with local beneficiaries and partners, and share successful practices as well as philosophies and methods of investment to help them grow. 

Following this principle, the SRIA will aim to foster multilateralism, win-win co-operation and the maximisation of stakeholder interests. As a non-governmental and non-sovereign multilateral platform, the SRIA Fund can play a better role in cross-border trade, e-commerce, digital finance, and issuance and circulation of digital currencies. We also look forward to the co-operation with both sovereign and non-sovereign funds of all parties to achieve a win-win result. 

 

This article is part of The IFF China Report 2021, which draws mainly on content provided by China-headquartered think tank, the International Finance Forum, and is published in association with Central Banking.

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