Global Times: Financial Street Forum highlights openness, win-win cooperation to advance high-quality BRI development

Oct 22, 2026

Beijing, China, October 22, 2026 -- According to the Global Times, Chinese and foreign government officials and industry representatives highlighted the importance of openness, win-win cooperation and financial innovation in advancing high-quality Belt and Road Initiative (BRI) development at a parallel forum of the Annual Conference of Financial Street Forum 2026 in Beijing on Wednesday, calling for stronger international cooperation to expand investment and financing opportunities.

Under the theme "Upholding Openness and Win-Win Cooperation to Foster New Dynamism for High Quality Belt and Road Cooperation," the forum, co-organized by the Export-Import Bank of China (CEXIM), brought together representatives from China and BRI partner countries to discuss infrastructure connectivity, sustainable financing and new opportunities for economic cooperation.

As a major financial institution supporting the BRI, CEXIM has extended more than 7 trillion yuan ($1.04 trillion) in loans to support the initiative over the past decade, with operations covering more than 130 partner countries, Chen Huaiyu, chairperson of the bank, said at the forum.

Chen said that the bank has continued to promote financial innovation and cooperation, including establishing a 30-billion-yuan special financing quota for China-Europe freight trains and creating the market's first basket of panda bonds involving BRI partner countries.

The bank has also explored diversified cooperation models with institutions including the New Development Bank and the World Bank to amplify the impact of financing, he said.

The growing economic ties between China and BRI partner countries have also been reflected in Beijing's expanding trade with these markets.

Vice Mayor of Beijing Tang Wenhong said that the Beijing has actively explored international markets under the initiative and launched its first freight train service to Central Asia.

In 2025, Beijing's total trade reached 3.19 trillion yuan, of which trade with BRI partner countries accounted for 1.93 trillion yuan, or 60.4 percent of the total, according to Tang.

While Chinese officials highlighted progress in financial support and trade connectivity, representatives from African countries emphasized the need for more diversified and sustainable financing to translate infrastructure investment into long-term economic development.

Kenya's Cabinet Secretary for the National Treasury and Economic Planning John Mbadi Ng'ongo said in remarks delivered from a satellite venue that the BRI has emerged as an important framework for strengthening connectivity, facilitating trade and investment, and expanding access to development finance.

For Kenya, infrastructure remains a key pillar of its national development agenda, with investment needed in the transport, energy, water, information and communication technology, and other critical sectors.

Achieving these objectives requires strong partnerships and access to adequate, affordable and sustainable financing, Mbadi said.

He welcomed growing collaboration among African countries, China, multilateral development institutions and the private sector in mobilizing resources for major development projects, noting that such partnerships also provide opportunities for knowledge sharing, technology transfer, capacity building and deeper economic integration.

Echoing the call for stronger financial cooperation, Lesotho's Minister of Finance and Development Planning Retselisitsoe Matlanyane highlighted China's experience in gradually opening its financial system while strengthening domestic institutions, saying that it offers lessons for African countries seeking to expand financial inclusion and access to capital.

On cooperation under the BRI, she said that the initiative has provided an important platform for strengthening connectivity, expanding economic cooperation and developing trade corridors. Such cooperation should be aligned with national development priorities and deliver tangible benefits to local communities, she added.

At Wednesday's forum, CEXIM signed cooperation agreements with international financial institutions and enterprises, covering financial cooperation, industrial development and overseas investment.

The growing emphasis on financial cooperation under the BRI reflects a shift toward more diversified and sustainable financing models, particularly as partner countries seek to address infrastructure gaps and support long-term economic growth, Hu Qimu, professor at the Maritime Silk Road Institute of Huaqiao University, told the Global Times on Wednesday.

The expert said that closer cooperation among Chinese financial institutions, multilateral development banks and local partners could help mobilize more capital, share investment risks and improve the efficiency of project financing. Such cooperation could also help translate infrastructure connectivity into tangible economic benefits by facilitating trade, attracting investment and creating local jobs, the expert noted.

The article first appeared in the Global Times:

https://www.globaltimes.cn/page/202610/1372743.shtml

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Mondilla fires 64 to storm ahead, eyes redemption

DAVAO CITY, Philippines – Clyde Mondilla is back where he has been so many times before – on top of the leaderboard, within reach of another Philippine Golf Tour title and in control of his own destiny. This time, however, the seasoned, multi-titled campaigner is determined to change the ending. Riding a blistering start and a relentless birdie spree, Mondilla fired an eight-under 64 under preferred lies to storm from four shots down into the outright lead after the third round of the ICTSI South Pacific Classic on Thursday, putting himself in prime position to end a title drought that has lingered since 2024. “I’ve been working on my iron and wedge play this week, making a few adjustments to fix the mistakes I made at Pueblo," said Mondilla in Filipino, one of the winningest players on the PGT whose last victory came two years ago at Caliraya Springs, when he defeated Angelo Que by three strokes. The Bukidnon ace opened with four straight birdies, erased his deficit to catch halfway leader Lee Song at 13-under, then sustained the charge over the remaining holes to seize the solo lead at 16-under 200. It was a stirring reminder of Mondilla’s ability to take control of a tournament when his game clicks. But it also brought back memories of what happened just days ago at Pueblo de Oro – when a spectacular third-round surge put him in command, only for a disastrous final-day 73 to send him tumbling to fourth. This time, Mondilla is hoping the lessons of that painful finish will make all the difference. Standing in his way is Song, who has been knocking on the door of a breakthrough since topping the PGT Qualifying School in 2023. The Korean, who surged into the lead with rounds of 67 and 65, remained firmly in contention despite Mondilla’s spectacular charge, carding a 69 for a 201. “Itwasagoodround,althoughImadealotofmistakes.Still,Imanagedtosaveparonafewholes,”saidSong. AshepreparesforhisfirstseriousbidforaPGTtitle,Songvowedtosticktohisgameplan. “It’sthesamemindset.I’lljustplayforpar,hitthefairwaysandgreens,andtake advantage ofanybirdieopportunitiesthatcomemyway,”headded. Sean Ramos, who joined the crowded leaderboard with a 66 in the second round, remained in the hunt at 203, also after a 69. He recovered from an opening bogey with three birdies over the next six holes but could not sustain the momentum, finishing with a string of pars before birdying the 17th to stay in solo third. Gab Manotoc, meanwhile, saw his bid for a maiden PGT breakthrough lose ground after a 73. Following rounds of 66 and 67, the bogey-free brilliance that had fueled his early charge gave way to a tougher day. After a frontside 35, he faltered with bogeys on Nos. 12, 14 and 15 before bouncing back with a birdie the 16th for the third straight day. He dropped to fourth at 206. “Putter was cold today and the three bogeys came from mental errors. I have to clean that up and try to post a number tomorrow,” said Manotoc. Mondilla’s recent run has been a study in promise and frustration. After spending time away from the Tour to attend to farm work in Bukidnon, Mondilla returned to competitive action in Negros Occidental last month, tying for eighth before placing fourth in Iloilo. He then contended for the title at Pueblo de Oro, only to see his bid unravel in the final round. Rather than dwell on the missed opportunities, Mondilla has focused on making the adjustments needed to finish the job. “My confidence is back, so hopefully, I can get the win,” he said. The adjustment appears to be paying dividends. Mondilla hit all fairways and his early precision, with several approaches settling inside eight feet, helped fuel his opening blitz and erase the four-shot deficit in a hurry. He piled up 10 birdies in a round that showcased the scoring touch that once made him one of the Tour’s most formidable players. Even two costly three-putts, on Nos. 13 and 16, could not derail his charge. The latter proved particularly frustrating. After unleashing a 380-yard drive on the par-4 16th, Mondilla had just 80 yards left to the pin but came up short with his approach, then needed three putts from 20 yards to end with a bogey. Still, he closed with authority, birdying the last two holes to move ahead of Song and take the lead on his own. With 18 holes left, Mondilla is not planning an elaborate tactical overhaul. His approach is simpler: trust the changes he has made, stay committed to the process and let his game dictate the outcome. “I won’t put pressure on myself. I’ll just enjoy and try to shoot low,” said Mondilla. He believes he is also rediscovering the form that carried him to the PGT Order of Merit crown in 2017, when he captured three titles in a dominant season. “I feel good after a long break while doing farm work in Bukidnon,” he said. Now comes the test that has eluded him in recent weeks – turning a strong position into a championship. Meanwhile, Song collected three birdies over his first 10 holes and recovered from a bogey on No. 11 with a birdie on the 15th to stay level with Mondilla at 15-under. But playing in the group behind, he could not match the Filipino’s closing push, settling for a three-under card and trailing Mondilla by one. Russell Bautista and Angelo Que matched 68s to share fifth spot at 207, while Dino Villanueva pooled a 209 after a 69, and Ira Alido surged with a flawless 66 to join Elee Bisera, Eric Gallardo and Keanu Jahns in a tie for eighth at 210. Bisera, Gallardo and Jahns carded 67, 70 and 71, respectively. With only 18 holes remaining in the P2.5-million championship, the stage is set for another tense finish in the penultimate leg of the 10-stage circuit organized by Pilipinas Golf Tournaments, Inc. Song has the experience of leading from the front, Ramos remains close enough to capitalize, and a crowded chasing pack is waiting for any opening. But the biggest storyline belongs to Mondilla. He has produced the charge, made the adjustments and put himself back in a familiar winning position. Now, after watching a promising week slip away at Pueblo de Oro, he has one final hurdle to clear. For Mondilla, the challenge is no longer simply to mount another surge. It is to make sure that, this time, the final chapter tells a different story. TMT