The new Silk Road, commonly known by its Chinese name the “Belt and Road Initiative” is a global project representing over 100 countries, 40% of the global GDP and 65% of the world population. Spearheaded by Chinese outbound investment which involves more than 1,700 short term projects to be completed within the next decade and a further 7,000 large projects by initiative deadline in 2050.
The Belt and Road will cover three different routes connecting China with Europe, the Middle East and Southeast Asia.
Sea route which is the “road” part of the initiative is divided into two routes – the first road connects China with North Africa and the Middle East through the Indian Ocean and the Red Sea, the second road brings investment from China to the nations across the South China Sea and into the Pacific.
The Belt section of the initiative will connect China to Europe by road and rail and encompasses the entirety of Central Asia and Russia.
Lorenzo Riccardi is the Managing Director of RsA Asia (rsa-tax.com); he lecturers at Shanghai Jiao Tong University and has been Adjunct Associate Professor of Taxation at Xian Jiao Tong Liverpool. He is a CPA specialized in international taxation and has covered roles in the governance of non-profit organizations and multi-national companies including the largest Italian groups in luxury, food and mechanical sectors. Lorenzo is a PhD researcher and focus on Asian Taxation and Belt Road Initiative at Shanghai University. He has published extensively on foreign investments in developing and frontier economies (lorenzoriccardi.com)
RsA Asia Tax Advisory
RsA Asia is a leading tax and advisory firm assisting companies, multinational groups and institutions in East Asia. The Firm focuses on China and Far East markets with a team of CPAs and Financial Advisors.