Report: B&R trade value hits US$953.59 bln in 2016

The Big Data Report of Trade Cooperation under the Belt and Road Initiative was recently released. [File photo]

China's total value of trade with countries along the Belt and Road Initiative routes has reached around US$953.59 billion in 2016, accounting for 25.7 percent of the country's total foreign trade volume, according to a big data report recently released in Dalian City, Liaoning Province.

The Big Data Report of Trade Cooperation under the Belt and Road Initiative was jointly compiled by a number of organizations including the Belt and Road Big Data Center of the State Information Center, Dalian Northeast Asia Big Data Center, Belt and Road Big Data Technology Co. Ltd, and Dalian Infobank Co., Ltd (Sinoimex).

The report shows that China's exports to countries along the routes have maintained growth momentum since 2011, hitting a value of US$587.48 billion in 2016, the highest in recent years.

The report uses a variety of big data analytical methods and makes a comprehensive analysis of the general situation in trade cooperation under the Belt and Road Initiative, as well as the current situation and development trends in trade cooperation between China and the 64 countries along the routes and between 31 Chinese provincial-level regions and relevant countries.

Based on a total of 120 million pieces of basic data on global trade under more than 8,000 categories, the report covers such measurements as bilateral trade volumes, commodities, trade bodies, trade methods and cooperation modes.

The report says that Southeast Asia is China's largest export destination and largest source of imports. Vietnam overtook Malaysia to become China's largest trading partner along the routes.

East China, South China and North China are the major regions conducting trade cooperation with countries along the routes. Guangdong Province topped all Chinese provincial-level regions in trade volume with relevant countries, accounting for 20.9 percent of the national total. It is followed by Jiangsu, Zhejiang and Beijing.