Western China to Launch International Trade Network
Eight provinces and regions, in the west of China, have signed a framework agreement to collaborate on the building of a new international land-sea trade corridor, according to Xinhua.
The eight parties which signed the agreement in Chongqing, on January 7, 2019, include Chongqing Municipality, the provinces of Guizhou, Gansu, Qinghai and Yunnan, and northwest China's Xinjiang Uygur and Ningxia Hui autonomous regions.
The new land-sea trade corridor is be jointly constructed by western Chinese provinces and ASEAN countries, working under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity.
From Chongqing, a transportation hub, the corridor will use ports in Guangxi's Beibu Gulf to reach ports in Singapore and other ASEAN countries, as well as linking China-Europe freight trains from multiple western Chinese cities.
By leveraging various transport options, such as railways, highways and water routes, the land-sea corridor enables transportation from western China to more regions across the world.
The previous China-Singapore Southern Transport Corridor, launched in 2017, was renamed in 2018 following the addition Qinghai and Xinjiang to the group of cooperating regions.
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Han Baochang, of the demonstration initiative's administration bureau, said: “The agreement signed by eight provinces and regions indicates that the cooperation on the new land-sea international trade corridor has expanded.”
In addition to this, Han revealed that the collaboration of different provinces and regions will help to connect the Silk Road Economic Belt and 21st-Century Maritime Silk Road, boosting development opportunities in the western part of China.