India boycotts China's OBOR summit, says it must respect territorial integrity

"We should build an open platform of cooperation and uphold and grow an open world economy", Xi told the opening of the summit.

But that harmony was somewhat spoiled by North Korea's missile launch from a base near the Chinese border hours before Xi started speaking.

According to the National Development and Reform Commission of China, the country's investment in projects related to the initiative has totaled 60 billion Dollars since 2013. The last time Duterte met Xi and Putin was during the Asia-Pacific Economic cooperation summit in Peru last October.

Britain can be a natural partner in delivering infrastructure in Belt and Road countries by supporting the finance and planning needed, Hammond said.

Sharif made the comments as India skipped China's Belt and Road Summit in opposition to the planned economic route which passes through Pakistan-controlled Kashmir. By some estimates, China plans to pump $150.billion into such projects each year.

However, western European countries have tended to send ministers or lower-ranking officials to the forum in a sign of their unease about the plan, which some see as an attempt to promote Chinese global influence. But they also have expressed concern that Beijing might undermine human rights and worldwide standards for lending or leave poor countries with too much debt.

China's state-run Xinhua news agency characterised One Belt One Road as a "once in a lifetime crack at modern prosperity" for developing nations with infrastructure deficits which have been neglected by the west. The $51.5 billion multi-layered infrastructure project aims to connect Kashgar in China's western Xinjiang province with Gwadar Port in Balochistan.

"We want German companies to be able to operate in China in the same way Chinese companies can in Germany", she said. "We will not export our system of society and development model, and even more will not impose our views on others".

"In advancing the Belt and Road, we will not re-tread the old path of games between foes".

"We should foster a new type of worldwide relationsfeaturing win-win cooperation; we should forge partnerships ofdialogue with no confrontation and of friendship, rather thanalliance", he said.

China is North Korea's chief ally and is seen by many as the main means for applying greater pressure on Pyongyang regarding its weapons programs.

"OBOR belongs to all of us, those who are participating and those who are not as yet. It must not be politicized", Sharif said here on the opening day of the event.

"No matter if they are from Asia and Europe, or Africa or the Americas, they are all co-operative partners in building the Belt and Road".

Meanwhile, Xi said a "stable, sustainable and safe" financing safeguard mechanism was needed to seek new financing methods and to improve cooperation between public and private funds.

The Philippines is ready to take part in the new Silk Road initiative led by China to help promote "inclusive growth and balanced development" that will benefit all.

So far, the initiative has won support from more than 100 countries and global organisations, of which over 40 have signed cooperation agreements with China.

Also, China will encourage financial institutions toconduct overseas RMB fund business with an estimated amount ofUSD 44 billion, Xi said. The prime ministers of Italy, Spain and Greece are expected, while Washington is sending a senior White House adviser.

Of the six corridors of Belt and Road, to New Delhi's interest is the Bangladesh-China-India-Myanmar route.

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