China Moves to Define ‘Belt and Road’ Projects for First Time

China is drafting rules for overseas investments to be considered part of President Xi Jinping’s Belt and Road Initiative, according to people familiar with the matter, marking the first attempt to better define his signature policy.

The plan, which isn’t yet final, aims to stop companies from misusing the label “Belt and Road Initiative,” said the people, who asked not to be named because the discussions were private. Unchecked use of the name on projects has created confusion about the initiative’s scope and damaged its reputation abroad, they said.