BYD Han — Introduction 14

Introduction Transport of the People's Republic of China is the most important inf 2 rastructural branch of the Chinese economy, which guarantees the continu2 ity and expansion of the reproductive process. Being a necessary condition for the territorial integrity of the country and the unity of its economic spa2 ce, transport highways connect all units of the provincial level of the PRC, ensure the expansion of China's foreign economic relations and its integrati2 on into the system of world economic relations.

The need for passenger and cargo transportation is determined by the dynamics of development and the structure of material production, the location of productive forces, the spa2 tial organization of the territory of China, the level of income of the popula2 tion.

The essence of the initiative of the PRC Chairman on the implementa2 tion of the «Belt and Road» project, first of all, is a plan for the development of the national economy — the construction of railways and highways in the western administrative units of the provincial level ensures the formation of a significant multiplier effect in adjacent industries, contributes to the con2 vergence of socio2economic development of the provinces of China and strengthening the connectivity of the single economic space of the country, ensures the creation of new jobs.

The construction of transit highways abro2 ad (the continental land transportation route within the framework of the «Silk Road Economic Belt» initiative and the land2sea transportation route within the framework of the «Maritime Silk Road221st century») also pro2 duces an external effect in the Chinese economy, will contribute to the de2 velopment of the economies of the countries participating in this project, and, ultimately, the expansion of the foreign infrastructure network stimula2 tes an increase in the volume of Chinese foreign trade in innovative goods with high added value.

In recent years, the issues of diversification of finan2 cing of integration processes in the development of international freight transit, aimed at uniting the road networks of the PRC and the participating countries of the «Belt and Road» megaproject and creating new contours of the Eurasian region, have become particularly relevant. The active partici2