China unveils vision for ‘Polar Silk Road’ across Arctic
In its first policy paper on the Arctic, Beijing acknowledges Chinese territory doesn't touch the Arctic Circle. Instead, it enjoys observer status in the Arctic Council, whose core members include Denmark, Sweden, Norway, Iceland, Finland, Russia and the US.
Therefore, the nation would like to "jointly understand, protect, develop and participate in the governance of the Arctic, and advance Arctic-related cooperation under the Belt and Road initiative", according to the paper.
It added that it would encourage enterprises to build infrastructure and conduct commercial trial voyages, paving the way for Arctic shipping routes that would form a "Polar Silk Road". The country has a major stake in the Russian Yamal liquefied natural gas (LNG) project, which is expected to supply China with 4 million tons of LNG per year.
According to a report published in the state-run China Daily newspaper, shipping across the Northern Sea Route would save roughly 20 days from Shanghai to Rotterdam compared to the traditional route, which passes through the Suez Canal.
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Melting ice may also offer commercial opportunities in the region, exerting influence on global shipping, worldwide trade, energy supply, and work and life of Arctic residents.
Melting ice in the Arctic has led to changes in the natural environment, or possibly can result in accelerated global warming, rising sea levels, increased extreme weather events, damaged biodiversity, and other global problems, it said.
China's Belt and Road initiative aims to connect China to Europe, the Middle East and beyond via massive infrastructure projects across dozens of countries, reflecting Xi's desire for China to take on a more prominent global leadership role.
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