Chongqing - In a significant move to support the New International Land-sea Trade Corridor (ILSTC), a trade and logistics passage jointly built by provincial-level regions in western China and Singapore, the General Administration of Customs China (GACC) has recently unveiled 15 critical measures to ensure seamless logistics, promote openness, foster industrial growth, and optimize the environmental impact.

The ILSTC witnessed substantial progress in recent years with improved logistics methods and efficiency, becoming a primary route for goods to be exported, particularly for central and western China. During the first half of this year, 4,510 rail-sea intermodal trains operated within the ILSTC, marking a notable 9% increase compared to the previous year.

Statistics of the New International Land-sea Trade Corridor during the first half of 2023. (Graphics/Chen Zhan)

15 customs measures to boost trade alone ILSTC

Among 15 measures introduced, GACC authorities put forward two targeted strategies to support the economic and trade industries along the ILSTC. 

Fostering industrial cooperation with ASEAN, GACC deepened the RCEP implementation by providing guidance to critical industries and firms, enabling them to fully leverage the rules of origin and preferential tax policies under the RCEP.

Enabling companies to expand their market, GACC also strengthened their monitoring and analysis of countries' import and export activities along the ILSTC and ASEAN, supported by the Nanning and Chongqing regional centers. 

Nanning, at the intersection of South China, Southwest China, and the China-ASEAN economic circle, is the core coverage area of the ILSTC. In 2022, Chongqing-Qinzhou rail-sea intermodal transport trains operated 2,553, an increase of 24%. 

Key measures implemented to develop ILSTC by the General Administration of Customs. (Graphics/Chen Zhan)

The ILSTC has accelerated resource circulation, leading to industrial optimization. Notably, export-oriented industries have been drawn to sit around the corridor, gradually transforming it into a prominent hub for international logistics, commerce, and industries.

During the first half of this year, the regions along the ILSTC achieved approximately 350 billion yuan (about 48.98 billion U.S. dollars) in imports and exports, a year-on-year increase of about 40%.

78,000 TEUs of goods, increased 36%

Emerged as a key initiator and crucial builder of the ILSTC, Chongqing plays a central role as the logistics and operation organization center for this ambitious channel.

A standout example of Chongqing's leadership is its fast customs clearance for the China-Laos and China-Vietnam trains within the ILSTC. This proactive approach has significantly enhanced goods movement and corridor efficiency. 

Statistics of the New International Land-sea Trade Corridor during the first half of 2023. (Graphics/Chen Zhan)

Thanks to the ILSTC's influence, Chongqing-made products, including laptops, automobiles, and intelligent wearable devices, have entered international markets. Meanwhile, Southeast Asian delicacies such as Thailand's durian, Cambodian rice, and Vietnam's pangasius have gained access to the Chinese market.

In the first half of this year, Chongqing transported 78,000 TEUs of goods valued at 12.28 billion yuan (about 1.72 billion U.S. dollars) through the ILSTC, an annual increase of 36% and 14%, respectively. 

The development of the ILSTC has enabled Chongqing to establish a robust four-way logistics system strategically connecting the southeast and northwest regions. This comprehensive logistics network encompasses railway, highway, water, and air transportation modes, providing a solid foundation for the seamless flow of goods and facilitating global trade.