Image Source: Reuters
UK Government Prepares For OBOR
UK Chancellor George Osborne announced that the China-Britain Business Council and the Foreign Office have launched a new study to set out opportunities, practical advice and chances to develop in various regions via funding streams including the AIIB for UK firms seeking to participate in the OBOR.
Osborne mentioned that the British government attaches great importance to the huge potential in the Xinjiang province, and would be willing to show commitment in development projects within the area.
The Chancellor’s visit also marks the very first time in history for a British minister-level politician visiting China’s northwest area.
Image Source: suphakit73 (Shutterstock)
Gansu Export Surge Alongside OBOR
According to the Gansu Provincial Committee and deputy governor Li Rongcan, local export to OBOR countries from Gansu in the first half of 2015 totaled at 2.31 billion yuan, a 14.5% increase from last year. Bilateral trade between Gansu and OBOR regions had also risen from 18% to 23%.
Exports of oil drilling equipment, specialty agricultural products, ethnic supplies and electronic products to Central Asia have increased significantly; where total exports to Kyrgyzstan and Tajikistan were 5 times more than last year.
Gansu has also set up trade representative offices in Indonesia, Belarus, Iran, Kyrgyzstan and Xinjiang to provide for international trade in the OBOR.
Image Source: tenpointsolutions.com
Railway Receives First Badge Cross-Border E-Commerce Products
The Yuxinou Railway has received the first badge of e-commerce export goods on board to Russia. Yuxinou Railway is one of the world’s longest international railway links, connecting China’s Chongqing and Germany’s Duisburg.
Launched in early 2011, the railway travels through northwest China, moves pass Kazakhstan, Russia, Belarus and Poland until it reaches Duisburg in Germany as final destination.
Border clearance procedures at the Yuxinou Railway were made simple to make it more convenient for cross-border trading along the route.
Image Source: Martin Barraud @ Getty Images
Chinese Provinces Finish OBOR Development Plans
Apart from Bejing and Tibet, 29 provinces in China have completed specific planning and implementation proposals for the OBOR, covering transportation, agriculture, energy, education and cultural cooperation.
Development of the six economic corridors and maritime strategic junctions will be the next focus of the government.