The "eight major steps" proposed by China have brought new opportunities for the high-quality development of the Belt and Road cooperation, according to a report released Tuesday by Xinhua Institute, a think tank affiliated with Xinhua News Agency.

Titled "'Eight Major Steps' Heralds Promising New Decade of Belt and Road Cooperation," the report was released at the Belt and Road Forum for International Think Tank Cooperation & the Second Silk Road (Xi'an) International Communication Forum.

China announced the eight major steps aiming at advancing the high-quality development of the Belt and Road at the third Belt and Road Forum for International Cooperation convened in October 2023.

In its second decade, the Belt and Road Initiative (BRI) is expected to see higher levels of cooperation, greater investment returns, improved supply quality and enhanced development resilience. The BRI has the potential to become a cornerstone in the construction of an open world economy, a driving force for collective development and an accelerator of global modernization, the report says.

It also notes that the BRI cooperation embodies a spirit of openness, which aligns with the trend of inclusive economic globalization. It also connects with the global economy effectively across multiple levels and sectors.

The BRI cooperation is expected to cultivate new growth points through new quality productive forces, and to unleash the potential of BRI partner countries while supporting their long-term, stable growth, according to the report.