China's B&R investment rises while China-Europe train freight hits record highs in H1: MOC

China's investment in and trade with the countries along the Belt and Road grew amid the pandemic in the first half of the year and the goods delivered by China-Europe freight trains reached new highs for four consecutive months, according to China's Ministry of Commerce (MOC).

Data show that China's investment in countries along the belt and road achieved rapid growth in the first half of this year, with non-financial direct investment reaching 8.12 billion U.S. dollars, up 19.4 percent year on year.

China's import and export with these countries totaled 4.2 trillion yuan, a slight decrease of 0.9 percent and 2.3 percentage points lower than the overall drop. China's import and export to ASEAN rose 5.6 percent to 2.09 trillion yuan, making ASEAN China's largest trading partner.

At a press conference held on July 30, MOC spokesman Gao Feng said Belt and Road relevant countries have actively strengthened cooperation to promote the stable development of trade and investment since the outbreak of the pandemic.

"This is the result of the cooperation between companies from China and other relevant countries to overcome the impact of the epidemic, and it also plays a positive role in the economic recovery of these countries," said Gao.

He pointed out that, on the one hand, countries along the Belt and Road have taken effective measures to cope with the COVID-19 epidemic, which has provided a good external environment for economic and trade exchanges; on the other hand, the growth of Chinese investment in these countries has also boosted trade.

The China-Europe freight trains have played an important role in stabilizing the international industrial and supply chains, ensuring the transport of epidemic prevention materials, promoting the resumption of production of enterprises and supporting relevant projects.

In the first half of this year, a total of 5,122 freight trains ran between China and Europe, up 36 percent year on year, which delivered goods of 461,000 of TEUs, a year-on-year increase of 41 percent, hitting record highs for four consecutive months. The cargo delivered included 3.67 million pieces or 27,000 tons of epidemic prevention materials.

Gao said that the ministry will introduce more supporting policies and measures to expand supply sources for both inbound and outbound freight, so as to create a good external environment for the smooth operation of China-Europe freight trains and enhance the brand.