One Belt One Road Initiative

China traces a new line through Europe as Italy backs Belt and Road

Chinese President Xi Jinping at the National People's Congress in Beijing. Photo: Andrea Verdelli/Getty Images

Chinese President Xi Jinping will arrive in Rome tomorrow ready to plant a flag in the heart of Europe.

What to watch: Italy is expected to break with most other advanced economies by formally signing onto Beijing's $1.3 trillion global Belt and Road (BRI) infrastructure initiative.

China pledges greater cooperation with foreign companies

President Xi Jinping and other Chinese officials applaud at the National People's Congress.
China's Vice Premier Wang Yang (Left), President Xi Jinping and Premier Li Keqiang applaud after the foreign investment law was passed during the closing session of the National People's Congress. Photo: Greg Baker/AFP/Getty Images

Chinese officials completed the 2019 National People's Congress on Thursday night. Notably, lawmakers passed a bill to eliminate the requirement that foreign companies transfer proprietary technology to Chinese partners and said it will protect against "illegal government interference."

The big picture: The body also pledged greater cooperation with American and European companies on Belt and Road initiatives.

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