Trade Volume between Shaanxi and Belt & Road Countries Exceeds RMB 73 Billion Yuan in the Past 3 Years
Trade Volume between Shaanxi and Belt & Road Countries Exceeds RMB 73 Billion Yuan in the Past 3 Years
Date: 2017-5-26

Trade Volume between Shaanxi and Belt & Road Countries Exceeds RMB 73 Billion Yuan in the Past 3 Years 

 

Since the Belt and Road Initiative has been put forward, Shaanxi has actively participated and greatly progressed in economic and trade cooperation with countries along the Belt and Road. Import and export trade volume between Shaanxi and the countries along the Belt and Road exceeds RMB 73 billion Yuan from 2014 to 2016, among which the trade volume in 2016 is RMB 23.1 billion Yuan, which accounts for 11.7% of the year’s total volume in Shaanxi. In the first quarter of this year, the trade volume amounts to RMB 6.62 billion Yuan, with a year-on-year increase of more than 10%.

To promote further cooperation with countries along the Belt and Road, Shaanxi focuses on the following 4 aspects including trade volume expansion, capacity cooperation, infrastructure construction cooperation and construction of platforms for economic and trade cooperation.

Shaanxi makes efforts on 2 aspects to expand trade volume. Firstly, an exchange of information, mutual recognition of supervision and assistance in law enforcement, and the integration and facilitation of regional clearance including mutual authorized economic operators are achieved to better service trade activities. For example, import customs clearance time is shortened to less than 15 hours in 2016 from 36 hours in 2013, whereas export customs clearance time is less than 1 hour from previous nearly 3 hours. Secondly, logistics efficiency is improved and logistics cost is reduced by building logistics access. Xi’an has launched more than 330 cargo trains to central Asia and Europe and 46 international air routes, which helps enterprises reduce their logistics costs by 20% to 30%.

Shaanxi endeavors to enhance capacity cooperation. By the end of 2016, the number of cooperative countries amounts to 26 from 11 in 2013, and foreign investment volume increases to 1.28 billion dollars from 0.38 billion dollars, accounting for 34% of the province’s total volume from 19%, which creates more jobs and revenues for these countries and helps transformation and upgrading of the enterprises of Shaanxi.

Shaanxi strives to enhance infrastructure construction cooperation. Firstly, huge engineering groups are encouraged to “go out” by giving full play of featured combination. The turnover of the projects in countries along the Belt and Road amounts to 1.225 billion dollars in 2016 from 0.724 billion dollars in 2014. Secondly, practical cooperation between enterprises and developmental financial institutions are enhanced to encourage the enterprises to contract more projects. Shaanxi branch of China Development Bank launched “Going-out Alliance between Banks and Enterprises”, and singed agreements on developmental financial cooperation with key enterprises including China Railway 20 Bureau Group Corporation and Top International Engineering Corporation to provide diversified services such as project recommendation and credit support.

Moreover, Shaanxi puts emphasis on construction of platforms for economic and trade cooperation. Firstly, famous forums and exhibitions are successfully held. The number of countries, regions, and international organizations attending Euro-Asia Economic Forum reaches 53 from 13 in the First Forum. 100 thousand businessmen from 87 countries and regions attended Silk Road International Exposition & ITFCEW. Secondly, economic and trade cooperation parks are co-established, including Xi’an Semiconductor Industry Park, China and South Korea (Shaanxi) Industry Park, Nebraska (Yangling) Agricultural Science and Technology Park, Sino-Russia Silk Road Innovation Park, Sino-Kazakstan Apple Park, etc.

 

 

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