2021 Development Index of New International Land-Sea Trade Corridor in Western China released during 4th WCIFIT

The 2021 Development Index of the New International Land-Sea Trade Corridor (ILSTC) releases in southwest China's Chongqing Municipality, on July 22, 2022. (Photo by Huang Wei/Xinhua)

The 2021 Development Index of the New International Land-Sea Trade Corridor (ILSTC) in Western China was released on Friday during the opening ceremony of the fourth Western China International Fair for Investment and Trade (WCIFIT) and the 2022 CCI-ILSTC International Cooperation Forum in southwest China's Chongqing Municipality.

The index, which measures the development of the New International Land-Sea Trade Corridor, a trade and logistics passage jointly built by Singapore and provincial-level regions of western China, saw its reading standing at 112.9 in 2021.

With a base period reading of 100, the index contains multiple sub-indexes to gauge the corridor's development in areas such as logistics facilities, trade and industries, according to Liu Wei, director of the Coordination Center for Logistics and Operation of the ILSTC.

In 2021, the infrastructure network and operation efficiency of the corridor have been continuously improved and the regional international cooperation has been deepened, which has brought strong development vitality to the areas along the trade corridor.

According to the results released, the sub-indexes for scale, quality and competitiveness of the construction and operation of the ILSTC rose at the same time in 2021, which reached 125, 112.7 and 101.9 respectively.

A report on the index stressed that more efforts should be made in enhancing transport capacity, expanding coverage of the corridor area, improving service quality, and enhancing the demonstration effect of the corridor, promoting the continuous high-quality development of the corridor in China's western region.

The index is jointly supported by the Chongqing Port and Logistics Office, the Development and Reform Commission of Guangxi Zhuang Autonomous Region and relevant departments from other provinces in western China and implemented by the Coordination Center for Logistics and Operation of the ILSTC and the New Land-Sea Corridor Operation Co., Ltd.