8.7 C
Beijing
Friday, March 20, 2026

China’s Commerce Minister to Address Global Trade Challenges at WTO Conference in Yaounde

China's Minister of Commerce Wang Wentao will attend the WTO Ministerial Conference in Yaounde, Cameroon, to discuss global trade challenges, WTO reform, and Africa's industrialization.

Embecta Acquires Owen Mumford for $199.4M to Bolster Drug Delivery and Expand Medical Offerings

Embecta announces definitive agreement to acquire Owen Mumford for up to $199.4M, expanding its drug delivery capabilities and strategic transformation into a broad-based medical supplies company.

China Launches $13.4 Billion Push for Foreign Investment in Key Industries

China's NDRC has unveiled a $13.4 billion plan to fuel foreign investment in manufacturing, logistics, and R&D, broadening global participation and targeting industrial innovation.

Xinjiang’s Urumqi International Land Port Area Set to Boost Trade with Europe and Central Asia in 2023

BusinessMacroXinjiang's Urumqi International Land Port Area Set to Boost Trade with Europe and Central Asia in 2023

The Urumqi International Land Port Area is set to unleash its potential further this year, according to local officials in the Xinjiang Uygur autonomous region. The key port on the Silk Road Economic Belt experienced a significant increase in trade volume last year, with the number of freight trucks and trains passing through the port on the rise. In 2022, the number of freight trucks passing through the port doubled, with more than 1,165 China-Europe railway express trains also making their way through, an increase of 16.5% compared to the previous year.

Currently, 21 China-Europe railway express services operate via the land port, allowing for the transportation of more than 200 types of goods to 19 countries and 26 cities. This year, the land port area plans to launch even more China-Europe railway express trains and expand trade routes, particularly to Central Asian and European countries.

“We will bolster cooperation with customs and railway operators so that we can provide more convenient services to importers and exporters and better facilitate foreign trade. Additionally, the land port area will become a hub for gathering strategic resources and consolidating global supply chains,” said Zhong Hehua, deputy director of development service center of the area.

Zhao Xiaohai, vice-president of Xinjiang International Land Port Group, noted that Urumqi has evolved from a logistics channel into a key logistics hub in Eurasia, and that the land port area will further enrich the Belt and Road Initiative and fuel the region’s opening-up. President Xi Jinping visited the area during his inspection tour in Xinjiang in July, and remarked that Xinjiang has transformed into the forefront of opening-up, as the country promotes the expansion of opening-up, the development of the western regions, and the joint building of the BRI.

This year, an international grain and oil trading center will be put to use at the land port area, and it plans to start providing cold chain logistics services from 2024. According to the region’s government work report published in January, the high-quality development of the land port area will be accelerated to spearhead Xinjiang’s opening-up efforts.

Check out our other content

Check out other tags:

Most Popular Articles