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The New International Land-Sea Trade Corridor of China has transported around 216,000 standard containers in the first half of 2022 — a 30.3 per cent year-on-year increase, according to the data revealed at the 4th Western China International Fair for Investment and Trade (WCIFIT). The passage has become a critical channel connecting China with the Association of Southeast Asian Nations (ASEAN) region.
The corridor, a collaborative project by provincial-level regions in western China and ASEAN members, has Chongqing as its operations centre and enables goods to be sent via different means of transport such as rail, road, and water. The passage links 319 ports with 107 countries and regions at present.
The New International Land-Sea Trade Corridor of China has transported around 216,000 standard containers in the first half of 2022, which is a 30.3 per cent year-on-year increase, according to data revealed at the WCIFIT. The passage has become a critical channel connecting China with the Association of Southeast Asian Nations (ASEAN) region.
The import and export volume of Chinese provinces and municipalities along the corridor has grown continuously over the past five years, from $58.9 billion in 2017 to $107.7 billion in 2021, and the categories of items transported extended to over 640 from about 50, according to a report by the ministry of commerce at the WCIFIT held in Southwest China’s Chongqing municipality.
The corridor links significant transport passages such as the China-Europe Railway Express services and the Yangtze River golden waterway, as well as economic corridors and circles in regions such as the Indo-China Peninsula and the Pacific. Trade between China and the ASEAN touched $458.55 billion in the first half of 2022, which was a rise of 11.5 per cent year-on-year, as per the data from the Chinese customs department.
The Chinese ministry of transport has also emphasised plans to develop the transport capacity of the trade corridor and promote critical projects such as railways, highways, ports, and civil aviation, according to a statement released on the ministry’s website.
Fibre2Fashion News Desk (NB)
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