The long-delayed report said that the Belt and Road - a string of ports, railways, roads and bridges and other investments connecting China to Europe via central and southern Asia - could lift 32 million people out of moderate poverty conditions if implemented fully.
India had refused to sign off on the BRI last year at the SCO summit in Qingdao, China, but New Delhi had not issued any statement opposing BRI this year when the second Belt and Road Forum met in April.
The initiative, a key thrust of President Xi Jinping's administration, has hit opposition in some countries over fears its opaque could lead to unsustainable debt and that it aims more to promote Chinese influence than development.
A Pentagon report last week, he said, warned that China could use its civilian research presence in the Arctic to strengthen its military presence, including the deployment of submarines - including the deployment of submarines to the region as a deterrent against nuclear attack.
Xi said market principles will apply in all Belt and Road cooperation projects and that his signature initiative to recreate the old Silk Road joining China with Asia and Europe will deliver green and high-quality development.
Xi said: “Facts have proved jointly building the "One Belt And One Road" has not only provided new opportunities for the development of all countries in the world, but also opened up new horizons for China's opening-up and development.”
Britain and China will hold the next round of their Economic and Financial Dialogue (EFD) in mid-June in London, Hammond said on Thursday, after months of media reports that talks had been delayed by diplomatic tension.