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International Cooperation Department
Tel.: (+86-21) 65853850-8034
Fax: (+86-21) 65373125
E-mail: ICDept@sisi-smu.org
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International Shipping |
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| New Int'l Land-Sea Trade Corridor moves 700,000 TEU, up 14.8pc |
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Date:2023-11-01 Readers:
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SOME 700,000 TEU have moved over the New International Land-Sea Trade Corridor (NLSC), up 14.8 per cent in the first nine months year on year, according to China Railway Nanning Group, reports Xinhua.
NLSC operates a pan-regional integrated transportation platform that orchestrates the transportation network between shipping ports in the east and south of China and the rest of Asia and Europe.
A new land-sea trade channel created to link China and Southeast Asia as part of the Belt and Road Initiative has seen a 10.5 per cent increase in volume in the first half of 2023.
The corridor is a joint project of western Chinese provinces (Chongqing, Guangxi, Guizhou, Gansu, Qinghai, Xinjiang, Yunnan and Ningxia) and Singapore under the government-to-government framework of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity.
The New International Land-Sea Trade Corridor is a trade and logistics route with an operational hub centred on Chongqing, connecting 190 ports in 90 countries, and one of many corridors under the Belt and Road Initiative.
The route for the corridor is the railway from Chongqing to ports at the Beibu Gulf in Guangxi like the port of Qinzhou. The cargo is shipped from the Beibu Gulf to other ports worldwide.
Examples in Chinese state media of the trade enabled by the corridor are potatoes from Gansu sold to Vietnam and pitaya from Vietnam found in the supermarkets of Chongqing.
From the centre of the hub in Chonqing, there are connections in other directions. Rail and truck lines also connect Chongqing to other Belt and Road Initiative corridors in Southeast Asia like the China-Myanmar Economic Corridor, Laos-China Economic Corridor, and Two Corridors, One Belt (Vietnam).
Chongqing is also connected with a railway line going to Europe through Central Asia via the New Eurasian Land Bridge.
The corridor puts emphasis on faster customs clearance. Fifteen regional customs under the General Administration of Customs of China entered into a memorandum in 2019 to cooperate on the corridor.
https://www.shippingazette.com/menu.asp?encode=eng
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