Economic integration

Five years later, land-sea trade corridor accelerates China-ASEAN economic integration – Xinhua

Aerial photo taken on March 2, 2022 shows a view of the container terminal at Qinzhou Port in south China’s Guangxi Zhuang Autonomous Region. (Xinhua)

NANNING, July 26 (Xinhua) — X9575, a freight train from southwest China’s Chongqing Municipality arrived at the East Railway Station of Qinzhou Port in Guangxi Zhuang Autonomous Region on Monday. (southern China).

Loaded with goods such as auto parts, chemicals and Chinese pickles from areas along the land-sea freight route, part of the new international land-sea trade corridor, X9575 transfers to Qinzhou port where the cargo will be shipped to the Southeast Association of Asian Nations (ASEAN) countries.

“Before, it took about a month for products from our western regions to reach ASEAN countries via the Yangtze River and sea route,” said Liang Yu, deputy director of the station.

Now, goods shipped to Chongqing could be delivered to Vietnam through the corridor in just four days, Liang added.

Launched in 2017, the New International Land-Sea Trade Corridor is a trade and logistics passage jointly built by western provinces of China and ASEAN countries.

With Chongqing as the transportation hub, the corridor uses Beibu Gulf ports in Guangxi to reach ports in Singapore and other ASEAN countries and connects China-Europe freight trains from many cities across the country. western China before moving on to Central Asia, South Asia and Europe.

The corridor saw 379,000 twenty-foot equivalent containers (TEUs) transported by rail intermodal freight trains in the first six months of this year, up 33.4% year-on-year, according to China Railway Nanning Group Co., ltd.

The corridor, which covers 14 provincial-level regions in China, has expanded its reach to 319 ports in 107 countries and regions.

Speaking about the corridor at the 12th Pan-Beibu Gulf Economic Cooperation Forum held in Nanning, capital of Guangxi, earlier this month, Basilio Dias Araujo, Deputy for Maritime Sovereignty and Energy, Coordinating Ministry of Indonesia’s Maritime Affairs and Investment, said it has brought more opportunities to China-ASEAN connectivity.

Basilio added that as a maritime country, Indonesia is also happy to join the construction of the corridor and strengthen cooperation with ports along the route, including Beibu Gulf Port.

Beibu Gulf Port, which includes Qinzhou, Fangcheng and Beihai ports, serves as an important transit point in the new international land-sea trade corridor. In the first half of the year, the port saw its freight throughput increase by 6.95% year-on-year to 139 million tonnes. During the same period, the port handled 3.2 million TEU containers, up 21.4 percent year on year, according to Beibu Gulf Port Group.

SITC Container Lines Co., Ltd. experienced a business boom in the Beibu Gulf Port thanks to the rapid development of the corridor and the deepening of China-ASEAN business cooperation.

“We opened two new routes to Haiphong city in Vietnam this year,” said Li Chaofei, general manager of SITC’s Nanning branch.

In April, China’s Gansu province signed a memorandum of understanding with Thailand to boost trade and strengthen bilateral relations.

Jurin Laksanawisit, Thai Deputy Prime Minister and Minister of Commerce, said Gansu is an integral part of the corridor and the signing of the MoU fully reflects Thailand’s expectation to further develop the economy in the region and to achieve common prosperity across the corridor.

Official data shows that over the past five years, trade volume between regions and cities along China’s corridor with ASEAN has continued to rise, rising from 58.9 billion US dollars in 2017. to US$107.7 billion in 2021.