From the Document: "President Xi Jinping of the People's Republic of China (PRC or China) in 2013 launched an ambitious and multifaceted foreign economic policy initiative--'One Belt, One Road'--to expand China's global economic reach and influence. In 2015, Beijing changed the English name to the 'Belt and Road Initiative (BRI)', possibly to deflect from its focus on developing China-centered and controlled global ties in a hub and spoke format. In October 2020, the Communist Party of China's Central Committee reaffirmed the effort's central role in national economic development and securing China's supply chains. A January 2021 White Paper, 'International Development Cooperation in the New Era', issued by China's cabinet, highlights the initiative's role as a platform for China's global commercial activity."
CRS In Focus, IF11735
Congressional Research Service: https://crsreports.congress.gov/