BASED on the city’s current good relationships with BRICS economies, Shenzhen is expected to form even stronger bonds with these countries as a positive result of the BRICS summit being held in Xiamen, an expert said.

The ongoing summit has gathered top leaders and major business partners from the five BRICS countries, namely Brazil, Russia, India, China and South Africa, in Xiamen, a coastal city in Fujian Province. An array of forums and business talks were organized on the sidelines of the summit, shedding light on deepening partnerships, and propelling investment as well as other business cooperation, Wang Guowen, head of the logistics and supply chain management research institute at the China Development Institute, told the Shenzhen Economic Daily.

Wang said that Shenzhen corporations would benefit from emerging opportunities in such fields as investment on infrastructure development, e-commerce and high technology, since closer ties with other BRICS economies will directly lower the cost of trade between these countries.

The current picture of trade between Shenzhen and BRICS countries is quite promising, according to the report. Over the years, the city has already achieved cooperative deals with the other four countries.

In particular, shipping is the main channel through which Shenzhen trades with these countries. By the end of 2016, Shenzhen had shipping lines bound for major harbors in Brazil, India, South Africa and Russia.

In terms of overland connection, a China Railway Express train, carrying freight worth nearly US$8 million in 41 containers, left Yantian container port on the morning of May 22, marking a new railway connection between Shenzhen and several major cities along the Belt and Road.

The train passes through Alashankou in China’s Xinjiang, Dostyk of Kazakhstan, Moscow of Russia, and arrives in Minsk of Belarus, covering 9,900 kilometers in 13 days and delivering products manufactured in Shenzhen and other Pearl River Delta cities to consumers in Europe.

Starting this month, trains will depart from both ends and the European terminus is expected to be extended to Hamburg, Germany. More trains will be available to connect Shenzhen to other European countries.

Wang said that Shenzhen has advantages in industries such as telecommunications, device manufacturing, new energy and bio-medicine. With the opportunities brought by the BRICS summit and the Belt & Road Initiative, the city sees promise in developing closer ties with BRICS economies.  (Zhang Qian)