Chongqing- The China-Singapore (Chongqing) Multimodal Distribution and Connectivity (DC) Center reached 979 twenty-foot equivalent units (TEUs) by the end of January, with a circulation value of 80.19 million yuan (about 11.75 million US dollars).
Data shows that the Center handled 150 TEUs of freight forwarding business this January. Its trading business completed the procurement of 15,200 tons of titanium concentrate and phosphate ore, and 91 containers of cold chain food, with a cumulative output value of about 75 million yuan.
Cargo situation of the China-Singapore (Chongqing) Multimodal Distribution and Connectivity (DC) Center in January 2023. (Graphics/ Chen Zhan)
As a key project of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), the Center is expected to achieve 32,000 TEUs by 2024 and optimize the transportation cost reduction ratio to about 5%, while the control efficiency of multimodal transport distribution will be kept within 90 minutes.
As a new starting point for the New International Land-sea Trade Corridor (ILSTC), the project enjoys access to well-developed comprehensive transportation and logistics network by introducing Singapore's advanced technology and management experience, creating core businesses of warehousing services, freight forwarding, and trade.
Integrating office leasing, commodity display areas, conference venues, and catering, the Center has built a Sino-Singapore trade and logistics headquarters, which provides services to settled enterprises, such as business negotiation, trade exhibitions, modern logistics and financial services, and multimodal transportation information.
Ten large and medium-sized enterprises have settled in the Center while the warehouse maintains its entire operation.
Target of the China-Singapore (Chongqing) Multimodal Distribution and Connectivity (DC) Center by 2024. (Graphics/ Chen Zhan)
In addition, the Center accelerates the integration of Sino-Singapore logistics resources to expand its freight forwarding business.
The service has expanded to Europe, Southeast Asia, and domestic regions like Shanghai, Hebei, Sichuan, and Chongqing, enhancing the global multimodal transport service capabilities.
Drawing on the results of the Sino-Singapore supply chain financial services practice, the Center expands its multimodal advantages of logistics and trade to facilitate domestic and overseas enterprises.
This January, 91 containers of cold chain products were purchased, all of which came from South America, Australia, New Zealand, the United States, Belarus, and other countries and regions.
Next, the Center will further promote China-Singapore cooperation in transportation and logistics to efficiently integrate the Belt and Road and the Yangtze River Economic Belt, driving the interconnection between western China and ASEAN countries.