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Analysts say heavy import tariff cut to boost premium car sales

Andrew Miles, president of Sam's Club China, introduces products to a member in Shenzhen. [Photo provided to China Daily]

Analysts said the move by ICBC highlighted China's desire to promote cooperation to expand investment channels and to ensure sustainable financing for projects under the initiative.

Anhui Governor Li Guoying noted that the central authorities have urged the province to further consolidate its foundation for manufacturing and extend its industrial chain.

And it is not just companies like Rio Tinto that are interested in the initiative. Multilateral groups, such as the B20 as you can imagine, are watching the progress closely.