A railway connecting China and Europe
- By Zhang Hong
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E-mail China Today, July 24, 2015
Accelerating trade contacts
To keep up with the deepening Sino-European trade, China has inaugurated nine fast cargo rail routes to European countries, such as the Czech Republic, Germany, Poland, and Spain. The Chongqing-Xinjiang-Europe International Railway was the first among them.
"One customs clearance, one application and one check make for unimpeded transportation. Cargo examined in China will not be re-checked in other countries," said He.
China and European countries are distinctly complementary, economically speaking. The EU's high-end mechanical products prevail in China, while China's labor-intensive products such as mechanical and electrical products, textiles, furniture, and toys have huge cost advantages over Europe.
"Thanks to the Silk Road Economic Belt Initiative, six countries along the rail route are seeing new development opportunities," said He.
Each year, China exports some 300 million tons of goods to Europe, while Europe only exports a small quantity of precise instruments, machinery, and high-end clothing to China. For the Chongqing-Xinjiang-Europe International Railway, although plenty of goods are transported from China to European countries, there is not enough return cargo from Europe. To solve this problem, bonded logistics centers in Chongqing and Zhengzhou of Henan Province will be put into use this year.
"At present, the return train has shipped European-made automobile and mechanical equipment to Chongqing, which have a great price advantage," said He.
This year, Chongqing will open stores of its feature products in key cities along the line, and introduce more European quality commodities to the municipality.
Besides, Chongqing expects to strengthen cooperation with EU countries in fields of high-end technology and equipment, new energy and new materials.
China will launch financial cooperation with central and eastern European countries, including currency swaps and cross-border trade settlements in local currencies. Moreover, China will deepen its economic and trade cooperation with Russia's Volga Federal District, encouraging Chongqing's superior enterprises in automobile, chemical and mining industries to enter the Russian market, as well as introducing Russia's advanced technology and enterprises in general aviation and materials to China.
Along with the maturing of railway logistics between China and Europe, cooperation in rail, port and customs will become closer. The Silk Road is expected to change from a passage of commerce and trade into an economic belt gathering industries and a dense population.
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