(Yicai Global) March 8 -- The Belt and Road Initiative(BRI) is a global public good that follows international rules, Foreign Minister Wang Yi said Thursday.

It is an international cooperation platform that follows market principles, Wang made the remarks at a press conference on the sidelines of the ongoing annual session of the National People's Congress.

The BRI is a transparent initiative that follows the "golden rule" of extensive consultation, joint contribution and shared benefits, Wang said.

"Everything is in the open," Wang told the press. "There is no backroom deal, and every step is transparent."

The foreign minister said China sincerely asks for ideas from all parties to make the BRI a success. China will work on both hardware connectivity of infrastructure and software connectivity of policy, regulation and standard.

It would be high-standard and economically viable, beneficial to the world as well as to China, Wang said.

Over 140 countries participated in the Belt and Road Forum for International Cooperation last May, which is a clear vote of confidence from the international community, according to the minister.