Nikkei:

As the city with the earliest launch of China-Europe freight trains, what achievements has Chongqing made in the last 13 years? The current international situation is becoming increasingly complex, especially with the ongoing Red Sea crisis. With that, the role of the China-Europe freight trains as a major logistics artery is becoming more obvious. Will the number of trips for the Chongqing China-Europe freight trains increase in the future? What are the trends in the types of goods being transported? How does it promote Chongqing's industrial development? Thank you!

Hu Henghua:

Thank you for your concern about the China-Europe freight trains. I will invite Vice Mayor Zheng Xiangdong to answer this question.

Zheng Xiangdong:

Okay, thanks. With the joint efforts of countries and regions along the route, the China-Europe freight trains have explored a path of consensus building, win-win cooperation and vitality. It has now become a widely welcomed international public product. As the first city to launch China-Europe freight trains, Chongqing has dispatched nearly 16,000 trains, shipped 1.3 million TEUs (twenty-foot equivalent unit) of goods and transported goods worth over 530 billion yuan.

We believe that although international trade and logistics are facing much uncertainty, the number of China-Europe freight trains and the volume of goods delivered will certainly continue to increase in the future. This is because continuous efforts have been made in terms of "hard connectivity" to improve the transportation network. At present, China-Europe freight trains travel on a total of 51 routes, reaching 113 cities in Europe and Asia. These routes interconnect with the New International Land-Sea Trade Corridor and the Yangtze River golden waterway, enabling almost full coverage across Asia and Europe. In terms of "soft connectivity," service efficiency related to transportation routes continues to improve. We have thoroughly promoted special services such as streamlined customs clearance, comprehensive insurance and cross-border finance, creatively explored land trade rules and launched a number of pilot programs regarding rail waybill related financial services, improving trade facilitation. On the supply side, we have enhanced logistics security. Recently, international maritime routes have encountered difficulties, while the volume and value of goods delivered by China-Europe freight trains from Chongqing to Europe have increased by 217% and 190%, respectively, showing the resilience and potential of land transportation in international trade. On the demand side, all parties have grown more eager for cooperation regarding the transportation routes. As efficient and stable public goods, China-Europe freight trains offer one of best solutions to international logistics, transforming the pattern of opening-up from mainly focusing on maritime transportation to coordinating between modes of land transportation and sea shipping.  

We believe that China-Europe freight trains will continue to play a greater role in Chongqing's industrial development. As China's door is opening ever wider and our circle of friends continues to expand, trade cooperation with countries along the routes will become closer, and more high-quality international commodities will enter the domestic market. The increasingly mature transportation services, more efficient interconnection between European, Central Asian and ASEAN markets, and the accelerated integration of cross-border funds, technologies and talent, mean that Chongqing will become more deeply involved in the global industrial division. The industrial ecosystem is improving, the integration of industrial and supply chains has picked up pace in regions along the routes, and as the result, the business vitality and growth potential will be further invigorated. For instance, the electronic information industry is one of pillars of Chongqing's economy. Since the launch of the China-Europe freight trains, more than 100,000 TEUs of related products worth over 180 billion yuan have been transported. 

We have reason to believe that in the future China-Europe freight trains will transport a greater quantity and wider variety of goods, with trade entities and business modes continuing to diversify. Thank you.