NO MARSHALL PLAN

Addressing the opening ceremony of the BFA on Saturday, President Xi Jinping said China would follow the principle of wide consultation, joint contribution and shared benefits when promoting the initiatives.

Xi promised that the programs of development will be open and inclusive, saying that they will be a real chorus comprising all countries along the routes.

Zheng Yongnian, director of the East Asian Institute at the National University of Singapore, regards the initiatives as an important factor in China's new round of the open-up.

"China is considering the real needs of the countries along the routes, rather than imposing its will on others. It is about negotiation," he said.

Dennis Bracy, CEO of U.S.-China Clear Energy Forum, said the initiative would facilitate cultural exchanges and mutual understanding, thus, creating more economic and trade opportunities.

"It has the potential to connect continental Asia, big countries and small countries, creating prosperity for all," said Ravi Bhoothalingam, chairman of Indian Manas Advisory.

"It is a cooperative venture where everybody will participate together, so it is very different from the concept of Marshall Plan," he added.