October 22, The Iran Project – Chinese media and officials believe that Iran plays a crucial role in developing China’s economic projects, especially the revival of new Silk Road.

Introducing the new "Silk Road Economic Belt in 2013, Chinese President Xi Jinping referred to Iran as a very major passage having a pivotal role in developing the project, stressing that Iran’s participation is necessary for the implementation of the Silk Road Initiative.

Chinese daily Global Times called Iran a leading force in implementing the Silk Road Initiative, pointing out that countries, such as Iran, are undoubtedly strategic partners in the economic development of China and advancement of the Silk Road plan.

It also stresses on Iran’s rich oil and energy resources, adding that better strategies are needed for the development of Tehran-Beijing relations and cooperation.

In 2013, Chinese President Xi Jinping introduced the new "Silk Road Economic Belt and the 21st Maritime Silk Road" initiative to connect stronger logistics networks with Asia, Africa and Europe by building more roads, railways and airports.

Beijing has launched the Asian Infrastructure Investment Bank (AIIB) with USD 100 billion in capital and the New Silk Road Fund with a capital of USD 40 billion to finance major infrastructure projects in the region, including those pertaining to the development of the New Silk Road.

Tehran has already pledged to support the New Silk Road initiative with an investment of USD 6 billion for the next six years.