The high-quality development of Belt and Road Initiative requires joint effort from all economies involved, said the country's top State asset regulator.

Xiao Yaqing, chairman of the State-owned Assets Supervision and Administration Commission, said the development of the Belt and Road Initiative is not China's solo.

Many economies related to the BRI have seen solid benefit from the initiative and some countries have benefited from better infrastructure in areas such as transportation and energy development. The initiative also helped restore the local ability in trade, labor training and agriculture development.

"The SOEs with local companies involved in the BRI can also work together in each other's markets or jointly develop third-party markets from long run," he said.