Since the “Belt and Road” Initiative was launched，China and the relevant countries have continued to deepen pragmatic cooperation while promoting interconnectivity partnership based on the principles of extensive consultation，joint contribution and shared benefits. A range of projects have advanced solidly and yielded a series of ground-breaking leading results，injecting an important impetus to the recovery and development of the world economy and the improvement of people’s livelihoods in countries along the route. Nevertheless，China’s investment in the “Belt and Road” countries still has problems such as high investment risk，low completion rate of cross-border mergers and acquisitions，weak profitability of overseas economic and trade cooperation zones，and inadequate bilateral investment agreements. In addition，the current spread of Covid-19 worldwide has exerted a severe impact on global supply chains and trade and investment activities. These pose new challenges to the “Belt and Road” Initiative. Building on the existing results of cooperation，China needs to reflect on and sum up past problems in a realistic manner，constantly adjust the ideas and methods of cooperation in respect of changes in the situation，and strive to achieve high-standard sustainable goals beneficial for livelihood and promote high-quality development of the “Belt and Road”.