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Intl financial institutions to support Land-Sea Trade Corridor

( eguizhou.gov.cn )

Updated: 2019-11-05

Fourteen financial institutions from home and abroad signed an agreement with CCI Eurasia Land Bridge Logistics Development Co (CELB) at the 2019 China-Singapore (Chongqing) Connectivity Initiative Financial Summit on Nov 4 to support the construction of the New International Land-Sea Trade Corridor.

The corridor built by West China with South and Southeast Asian countries takes Guangxi, Guizhou, Gansu, Qinghai, and Xinjiang as hubs to transport goods from inland to Guangxi's coastal and border ports via railway, sea, and highway transportation, which saves time compared with traditional transportation through East China.

According to the agreement, the banks will co-establish a financial service platform to provide convenient and low-cost service for logistics, trade, and manufacturing companies involved in the corridor.

In addition, the banks are expected to support CELB to expand trade and industrial services relying on convenient and low-cost logistics, thus driving the corridor's economic development.

By the end of September, the corridor had realized logistics transportation via railway and sea combined transport, cross border highways, as well as railways, covering 190 ports in 90 countries and regions.

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