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The Arctic is being seen as a hotbed of strategic competition between major powers. In recent years, not only the United States, but also Russia and China have increased their engagement within the Arctic region by the implementation of research surveys, exploration activities, and gradually increased their military presence in order to consolidate influence in the resource-wealthy region (Hân, 2021) [, May 31, https://www.qdnd.vn/thoi-su-quoc-te/doi-song-quoc-te/suc-nong-cua-bac-cuc-661233]. Up to now, China has launched many strategies and related policies for the Arctic region. In the recently announced 14th Five-Year Plan (2021–2025), China emphasizes the importance of the “Polar Silk Road across the Arctic”, seeing it as a component of the “Belt and Road Initiative” (BRI). The Government of China also calls for enterprises to invest in the Arctic Ocean and Antarctica. The paper provides an objective and a multidimensional assessment on the formation and construction of a project known as China’s Polar Silk Road across the Arctic or Arctic Silk Road so that we can better understand this new Chinese ambition.