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China to boost international trade potential

7 Dec 2016

China will invest heavily in the country’s transport infrastructure, with plans to build an open, modern and efficient international road system by 2020. The strategy was announced at a press conference held by the Ministry of Transport of China on 6 December 2016.

China’s commitment to increase the volume of international trade across the region is also evidenced by its recent ratification of the TIR Convention, which is due to enter into force in 2017.

The “One Belt, One Road” project to advance transport infrastructure and establish trade networks, will connect Asia with Europe and Africa along ancient trade routes. Regions along these routes account for 63 percent of the global population and 29 percent of the global economy. The latest plans include improvements to customs clearance efficiency and emergency rescue capabilities.

Wang Shuiping, a senior official of the Ministry of Transport said,
“The move aims to develop economic corridors with countries along the Belt and Road, reduce cross-border transport costs and improve transport services and efficiency”.

Details have been outlined in a circular, jointly released by eight central departments, including China Customs, Ministry of Foreign Affairs, the Quarantine Authority, Ministry of Public Security, Ministry of Commerce, Ministry of Finance and National Development and Reform Commission and the Ministry of Transport.