VISITORS at an international investment and trade fair in Southwest China’s Chongqing Municipality were captivated by the innovative range of new energy vehicles displayed by SERES that are set to hit the global market through the New International Land-Sea Trade Corridor.

The trade corridor is a trade and logistics passage jointly built by provincial-level regions in western China and ASEAN countries. It is also one of the key projects under the Belt and Road Initiative (BRI) initiated by China.

“Compared to the old route via river and sea, the new trade corridor can save us 10 to 20 days. It has played a crucial role for our company in expanding its footprints in the overseas markets,” said Zhang Xingyan, general manager of the overseas business division of SERES Group, a carmaker based in Chongqing.

For instance, through the trade corridor, SERES’ products can reach Indonesia in only about 18 days, whereas previously it would take about a month.

As of 2022, the company has exported vehicles and auto components worth approximately 2 billion yuan (US$284.39 million) through the trade corridor to many countries including Indonesia, Peru and Ecuador.

As the trade corridor provides a faster and more efficient channel with reduced transportation and operation costs, SERES has boosted its overseas investment. To date, it has invested US$150 million in establishing an automobile manufacturing base in Indonesia.

The rapid growth of the company exemplifies the immense opportunities provided by the trade corridor.

Thanks to the trade corridor, an increasing number of products from China’s inland provinces and regions along the route, such as Ningxia Hui Autonomous Region’s red wine, Luosifen, or the stinky snail noodle from Guangxi Zhuang Autonomous Region, and nuts from Xinjiang Uygur Autonomous Region, have explored broader markets worldwide.

“We saw a growing participation of Chinese provinces and regions, as well as countries and regions along the route, which showcases the fundamental principle of attaining shared growth through consultation and collaboration,” said Liu Wei, director of the logistics and operation coordination center of the New International Land-Sea Trade Corridor.

Four years ago, the trade corridor linked 166 ports in 71 countries, but it has now expanded to include over 390 ports across 119 countries.

Laotian redwood furniture, Philippine durians and Indonesian civet coffee can reach Chongqing through the trade corridor in just a few days.

(Xinhua)