Over the past five years, China’s New International Land-Sea Trade Corridor has expanded its reach to 523 ports in 124 countries and regions. With its operational hub based in southwest China’s Chongqing Municipality, the trade corridor connects global ports via railways, sea routes, and highways through southern Chinese provincial regions including Guangxi and Yunnan.
According to the latest data from the corridor’s coordination center, more than 30,000 China-Europe freight trains have operated via the trade corridor.
From 2019 to 2023, the annual freight volume from Chongqing increased by 50 percent, 45 percent, 54 percent, 32 percent, and 21 percent year-on-year, respectively.
Over the past five years, the variety of goods transported has expanded from over 80 types to more than 1,150 types. It now covers a wide range of categories, including electronic products, vehicles and components, machinery, small household appliances, and food.
In addition, the trade corridor has now achieved a near balance between inbound and outbound shipments.
Due to the fast and efficient corridor, specialty products from western China have driven local foreign trade growth. Additionally, new energy vehicle exports from the country’s western regions have accelerated. Local auto enterprises are now establishing factories in Southeast Asian countries.
Meanwhile, Southeast Asian specialty products are entering the Chinese market faster through the corridor.
China’s trade corridor promotes the opening up and development of western China. In addition, it creates new opportunities for the Belt and Road Initiative participating countries, said the corridor’s coordination center for logistics and operation.
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