China-Singapore cooperation plan on land-sea trade corridor released

CHONGQING -- A cooperation plan on the New International Land-Sea Trade Corridor jointly compiled by China and Singapore was officially released Wednesday in Southwest China's Chongqing Municipality.

The plan details cooperation in various fields including trade, industry, infrastructures, supply chains and logistics, financial services and investment, and digitalization. It also highlights cooperation in talent exchanges, culture and tourism, and educational training.

The land-sea corridor under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity is a trade and logistics passage jointly built by the provincial-level regions of western China and ASEAN countries. Chongqing Municipality is the center of operations for the corridor.

By 2025, the new land-sea corridor featuring efficient, open, stable and competitive trade logistics, industrial cooperation, and technology and people-to-people exchanges between western China and ASEAN will have been basically established, according to the plan.

Trade between ASEAN and Chinese provincial-level regions along the corridor is expected to reach $180 billion by 2025, with the transport volume of containers moving via the sea-rail transport service reaching 500,000 TEUs and cross-border trains making 2,000 trips, the plan says.

As for the long-term target, a modern interconnection network will have been built by 2035 to effectively connect the Eurasian continent and benefit western China, Southeast Asia, Central Asia and Europe, it states.