How can we unlock new avenues for logistics development? The key lies here!
Release date:
2023-11-24
Author:
Jinhua Logistics
The scale, level, and quality of cooperation between China and the countries co-building the Belt and Road Initiative will undoubtedly continue to improve as common interests are pursued. Since the launch of the Belt and Road Initiative, the transportation sector has actively implemented its guiding principles and played a crucial role in leading and pioneering progress.
China and The scale, level, and quality of cooperation among the countries jointly building the Belt and Road Initiative will undoubtedly continue to improve as they pursue their shared interests.
Joint construction Since the launch of the Belt and Road Initiative, the transportation sector has actively implemented its guiding principles and played a pivotal role as a vanguard.
Over the past decade of development, the logistics sector has given rise to the highly acclaimed China–Europe Railway Express—a flagship and influential brand—and it has evolved into a platform for international cooperation. In particular, The “Six Corridors, Six Routes, Multiple Countries, Multiple Ports” initiative is helping to forge a new landscape of interconnectedness. Major transport corridors—exemplified by the China–Europe Railway Express and the New International Land-Sea Trade Corridor—are being rapidly developed. The three principal routes of the China–Europe Railway Express—the Northern, Central, and Southern corridors—span the China–Mongolia–Russia Economic Corridor, the New Eurasian Land Bridge, and the China–Central Asia–West Asia Economic Corridor, reaching over 200 cities in 25 European countries. This has created new conditions and opened up fresh opportunities for deepening trade and industrial cooperation along these routes, underpinned by robust logistics and supply chains. Over the next decade, there is every reason to believe that the scale, level, and quality of cooperation between China and the Belt and Road partner countries will continue to rise in tandem with the pursuit of shared interests.
In terms of trade cooperation, as logistics collaboration deepens, it will create favorable conditions for expanding economic and trade ties among countries along the route, based on logistics‑supply chain partnerships, thereby driving rapid growth in the volume of trade between China and these countries. From 2013 to 2021, the cumulative value of China’s trade in goods with countries along the Belt and Road reached US$11 trillion, growing at an average annual rate of 7.1%. During this period, the share of such trade in China’s total foreign trade rose from 25% to 29.7%. In 2021, China’s total trade in goods with the 145 countries that have signed Belt and Road cooperation agreements amounted to US$2.5 trillion, accounting for 41.7% of China’s overall merchandise trade; among these, trade between China and ASEAN alone accounted for 34.8%.
In line with this trend, China and… The steady expansion of trade among the countries participating in the Belt and Road Initiative has become inevitable. Consequently, demand for logistics and supply-chain services will no longer be reflected solely in the number of train services; instead, it will be deeply integrated into the trade value chain, giving rise to new forms and models of trade cooperation. This will continuously elevate the level of integrated development between logistics and trade, positioning the initiative as a leading indicator of innovative global logistics‑supply‑chain development.
In terms of industrial cooperation and development, over the past decade, Industrial and supply chain cooperation among countries and regions along the Belt and Road has grown increasingly close. On the one hand, the industrial complementarity between China and these countries has continued to strengthen. From 2013 to 2022, the share of intermediate goods in China’s exports to Belt and Road economies rose from 49.8% to 56.3%. In 2021, China’s exports of electromechanical products and labor‑intensive goods to Belt and Road countries accounted for 72.9% of its total exports to those markets that year.
China —The enhancement of the level and scale of industrial cooperation among ASEAN member states vividly underscores the promising prospects of such collaboration. Meanwhile, leveraging the China–Europe Railway Express as a transit‑transport platform has, to a significant extent, reshaped the spatial configuration of industrial linkages among Belt and Road partner countries. Looking ahead, driven by trade and underpinned by robust logistics networks, industrial cooperation is bound to deepen, giving rise to a new model and a fresh landscape in which industry, trade, and logistics reinforce and propel one another. Accordingly, this will unlock greater development opportunities in the construction of logistics corridors and hubs, calling on logistics‑related enterprises to seize these prospects, pursue high‑quality growth, capitalize on prevailing momentum, and expand new frontiers for logistics development.
In terms of inland economic opening-up, with… As the Belt and Road Initiative deepens and takes concrete shape, and as the quality of trade and industrial cooperation continues to improve, the level of trade liberalization and facilitation between China and the countries jointly building the Belt and Road will see a substantial overall enhancement. In particular, the Belt and Road Initiative represents a major strategic move for China to further open up and serves as the top-level design for its economic diplomacy. By the end of 2022, China had signed 19 free-trade agreements with 26 countries and regions, with its free-trade partners spanning Asia, Oceania, Latin America, Europe, and Africa. The vast inland regions in central and western China—situated at the western frontier of the Belt and Road’s westward outreach—will accelerate the development of new hubs of openness and emerging centers for industrial clustering. To this end, in future development, logistics enterprises must recognize the evolving spatial landscape of logistics development, strategically position themselves in emerging high‑ground areas of open development, and seize new opportunities for growth.
(Author: Wang Ming, Director of the Comprehensive Transportation Research Institute of the National Development and Reform Commission)
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