Silk Road Maritime important bond for boosting "dual circulation"

Updated: September 17, 2022 Source: Belt and Road Portal
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Photo shows a view of Xiamen Port in east China's Fujian Province. (Photo provided by Fujian Provincial Port Group Co., Ltd.)

Since its launch by east China's Fujian Province in 2018, Silk Road Maritime has been showing strong development momentum and resilience, becoming an important link in promoting the "dual circulation" of domestic and international markets.

Despite the constantly changing global economic environment, trade between Fujian and the countries and regions along the Belt and Road routes reached 412.2 billion yuan (about 58.93 billion U.S. dollars) in the first seven months of 2022, up 19.6 percent year on year. By the end of August this year, a total of 9,014 trips have been made through shipping routes named after Silk Road Maritime, with the total container throughput reaching 10.182 million twenty-foot equivalent units.

More achievements were seen of the development of Silk Road Maritime this year, as the 2022 Silk Road Maritime International Cooperation Forum kicked off on September 8. On June 10, the e-commerce express of Silk Road Maritime was launched. Earlier in January, a new shipping route was opened linking members of the Regional Comprehensive Economic Partnership.

By integrating with the New International Land-Sea Trade Corridor and the China-Europe freight train services, Silk Road Maritime has also supported Fujian in building overseas shipping channel for inland provinces. In 2021, the volume of bulk cargo from outside the province handled by Fujian's ports through sea-rail combined transport increased by 21.5 percent from the last year. Container volume of sea-rail combined transport in the first half of 2022 saw a year-on-year increase of 44 percent.

By further promoting policy coordination with China's land and sea ports, Silk Road Maritime is committed to helping strengthening the connection among industrial and supply chains through forging closed-loop logistics channels radiating both domestic and international markets, according to Chen Zhiping, chairman of Fujian Provincial Port Group Co., Ltd. and Fujian Silk Road Maritime Management Company.

The brand is featured by cross-sector integrated cooperation, with members of the Silk Road Maritime Alliance each leveraging their strengths. Aiming to boost information sharing among relevant enterprises, Silk Road Maritime also provides a global shipping comprehensive service platform, whose first phase construction has been completed.

Editor: Jiang Feifan