Xu Ying

xuying.beijing@icloud.com

THIS year marks the 10th anniversary of China’s Belt and Road Initiative (BRI). As a strategically important city along the Belt and Road, Shenzhen has actively integrated into the BRI and boosted economic and trade exchanges with partner countries.

Trade data highlights Shenzhen’s expanding commercial ties with Belt and Road countries. In the first seven months of 2023, the city’s import-export trade with Belt and Road countries reached 510.7 billion yuan (US$69.9 billion), up 16% year on year and hitting a record high. Exports grew even faster at 34% to 332 billion yuan, making it China’s top exporter to Belt and Road countries.

Private enterprises have become a driving force in Shenzhen’s Belt and Road trade, aggressively exploring new overseas markets. For example, Ming Fai Industrial Co. Ltd., a major exporter of hotel and travel products, has seen its exports to Belt and Road countries grow steadily.

ASEAN has emerged as Shenzhen’s second-largest trading partner and its major trading partner along the Belt and Road. To boost exchanges, Shenzhen has established sister-city ties with six cities in four ASEAN countries. The Shenzhen Airport has nine operating cargo routes to ASEAN, with 96 weekly flights.

Trade flows reflect deepening economic integration. Shenzhen-ASEAN trade hit 306.9 billion yuan in the first seven months of 2023, up 6% year on year to a record high. At the China-ASEAN Forum on Emerging Industries in July, Shenzhen-based Gecko NEV Technology inked multiple deals with clients from Myanmar and Malaysia, highlighting the vast opportunities for business cooperation in emerging industries. Amid shifting global supply chains, Shenzhen has spearheaded freight routes connecting China with Europe over land. On Aug. 20, Shenzhen’s first China-Europe freight train carrying domestically-produced cars set off, traversing Kazakhstan and Belarus before reaching Central Europe. The 22-day rail journey slashes the transport time by half compared with sea shipping.

Looking forward, Shenzhen will leverage its strengths as a leader in high-tech manufacturing, finance, and logistics to drive Belt and Road cooperation. By sharing its expertise in sectors such as electric vehicles, Shenzhen continues to help partner countries achieve sustainable development. With its spirit of innovation and opening up, Shenzhen is poised to contribute further to the BRI’s vision of shared growth and prosperity.

(The author is a Beijing-based commentator.)