Chongqing - "The New International Land-Sea Trade Corridor's (ILSTC) construction in Chongqing has seen significant acceleration since the start of the year," stated an authority from the ILSTC Operations Center.
Within the first four months of this year, Chongqing transported 51,000 TEUs (twenty-foot equivalent units) via the ILSTC, marking a year-on-year growth of 37%. The cargo's value rose to 7.884 billion yuan (about USD 1.134 billion), signifying a year-on-year increase of 24%.
The ILSTC's coverage continues to broaden. At present, the corridor serves 393 ports across 119 countries and regions.
This past March, the successful opening of the ILSTC's river-rail-sea intermodal route connected Chongqing's Wanzhou Port with Qinzhou Port, extending to Southeast Asia.
In April, a groundbreaking cross-border intermodal train transportation service was launched jointly by Chongqing and Yunnan on the ILSTC. This service, running from Chongqing to Ruili and onwards to Myanmar, represents the first cross-border intermodal train service from China to Myanmar via the Ruili Port on the ILSTC.
In May, the inaugural operation of the Chongqing cross-border highway regular lorry took place on the Chongqing-Yunnan-Tianbao-Vietnam route.
Aiming to integrate the corridor with various industries, Chongqing strives to link the corridor to logistics, connect logistics to economic and trade activities, and associate these activities with industries.
The Guoyuan Port in the Liangjiang New Area debuted the "Made in Chongqing" special train at the year's start. This train transports products like tires, chemicals, and automotive spare parts to European and North American markets via the ILSTC.
In March, the ILSTC officially teamed up with Chongqing's new energy vehicle sector. A batch of new energy vehicles from Seres Group Co., Ltd. set off on the ILSTC for international shipping. This shipment also marked the first dispatch of new energy vehicles on the ILSTC originating from Chongqing.
The first Chongqing-made NEVs were delivered via ILSTC. (Photo/Xie Li)
This April, the ILSTC Financial Services Consortium was officially founded in Chongqing. It aims to enhance cross-border trade investment and industrial development along the corridor.
The ILSTC Financial Services Consortium was jointly initiated and organized by Chongqing Local Financial Institutions, policy banks, and both domestic and foreign commercial banks with branches in Chongqing. Its establishment has drawn together financial institutions along the corridor to participate collectively.
Presently, the consortium boasts 56 member institutions. Their collective goal is to improve cross-border and cross-regional financial consultation mechanisms, apply financial strength to empower the construction of the ILSTC, promote economic connectivity among countries and regions along the ILSTC, and deepen China-ASEAN financial open cooperation.
For instance, the construction project of the Chongqing International Logistics Hub Park, situated in Chongqing's Shapingba District—a core area of the Belt and Road Initiative—has been fully launched to promote the integration and upgrading of industry and urban development.
The Chongqing Branch of the China Development Bank has granted a loan of nearly 1 billion yuan (about 143.9 million U.S. dollars) to the project, thereby unlocking the development potential of the Chongqing International Logistics Hub Park.
This loan will underpin the construction of a multimodal transportation hub centered around railways. It will also aid in the upgrading of industries, the enhancement of infrastructure facilities, and the improvement of ecological and environmental governance.
Such financial support is expected to foster the growth of strategic emerging industries, expedite the upgrading of trade and consumption, and facilitate the smooth development of international logistics.
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