Chongqing - The year 2023 marks the tenth anniversary of the Belt and Road Initiative. Over the past decade, Chongqing has been actively promoting trade and economic ties with countries involved in the initiative, leading to the continuous expansion of trade volume and the ongoing optimization of trade structures.
“The Belt and Road Initiative is not merely a geographical connectivity plan. It serves as a global trade engine,” said Richard Liu, Director of Technology Customer Experience (Greater China Area), Maersk.
Liu added, “This initiative has significantly contributed to reducing trade costs and fostering economic prosperity, with the benefits of trade-based growth extending to an increasing number of markets.”
Over the past ten years, Chongqing has been instrumental in propelling the rise of the New International Land-Sea Trade Corridor (ILSTC), which has now evolved into a national strategy. This vast undertaking has created a network that spans 393 ports across 119 countries and regions, effectively connecting China’s inland cities with international trade.
As a global leader in shipping and logistics, Maersk actively engages in the Belt and Road Initiative and other global cooperation projects, continuously deepening collaborations and driving the development of the global logistics industry.
According to Liu, Chongqing, as the convergence point of the ILSTC and the Yangtze River Economic Belt, maintains a vital link with Europe through the China Railway Express while simultaneously establishing solid connections with ASEAN countries through rail, road, and sea transport.
In June 2022, Maersk’s maritime shipping containers embarked on the ILSTC via the China-Laos Railway international train service, journeying from the central station in Chongqing’s Tuanjie Village to Vientiane, Laos.
“Chongqing is preparing for UNESCO’s Design City designation in 2025,” said Terence Lai, Director and GM of SPACElogic China. “I believe this is a significant step towards helping Chongqing become an innovative city.”
During the early stages of industrialization, Chongqing had a strong industrial base in China. Lai added, “We know that industrial innovation is essential, and the world is progressing toward the era of artificial intelligence and automation.”
The Design City initiative has the potential to connect Chongqing with the world through advanced knowledge and the exchange of ideas. This will provide excellent opportunities for Chongqing in various fields, including institutions, product design, technological innovation, new business collaborations, and international investment.
Chongqing’s wealth of industrial experience and advanced technology has also created an ideal environment for the thriving field of industrial design. The city not only boasts impressive manufacturing capabilities but also fosters innovative collaborations across different sectors.
By combining its industrial prowess with cultural and tourism elements, Chongqing is poised to make significant strides toward achieving its goal of becoming a recognized Design City, according to Lai.
“The next phase should focus on attracting more Singaporean SMEs to Chongqing, encouraging investment in the retail, lifestyle, wellness, culture, tourism, and services sectors,” Lai continued.
At present, the cumulative efforts of China and Singapore have resulted in the signing of 265 government and commercial cooperation projects with a total value of USD 25.65 billion.
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