BEIJING, July 20 -- Moody's said on Monday that China's Silk Road Economic Belt and the 21st Century Maritime Silk Road initiative will prove credit positive for the economy as inland regions and participating companies gain from increased investment and bigger markets.

The Belt and Road could also help the Chinese yuan go global as intra-regional investment and lending will encourage greater international use of the yuan, said Michael Taylor, Moody's chief credit officer for the Asia Pacific.

Moody's said the Belt and Road is credit positive for large and financially strong Chinese corporations operating in building materials, power and construction. Companies that use natural resources such as oil and gas are also expected to gain from the initiative.

Chinese banks actively engaged in the initiative will benefit from wider market access and increased demand for loans, Moody's said.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road revive ancient trade routes between Asia and Europe.

China's bilateral trade with countries along the Belt and Road remained robust and close to three trillion yuan (490 billion yuan) in H1, about one-fourth of total trade volume.