China-CEEC Ties: Cooperation under the Belt & Road Initiative

World
Europe

03:18

China and Central and European Countries continue to seek better trade and exchanges under the Belt and Road Initiative. And the first China-CEEC Expo is underway in the eastern Chinese city of Ningbo, where think-tanks and researchers are discussing the achievements and challenges that people face in enhancing trade between the two regions. Ning Hong reports.

Almost every day, cargo trains set off from Yiwu, the largest distribution center of small commodities in China, carrying tens of million goods between China and Europe. In 2018, over 25 thousand containers were sent.

FENG XUBIN, CHAIRMAN YIWU TIMEX INDUSTRIAL INVESTMENT "Our customers are mainly from inland cities in Europe. Goods have a tight schedule for delivery, and sometimes a short expiration date. Things like olive oil from Spain, or beer should be sent by train, as it takes 20 to 30 days less than shipping."

This has given rise to trade between China and Central and Eastern European companies as many are along the route.

FENG XUBIN, CHAIRMAN YIWU TIMEX INDUSTRIAL INVESTMENT "We opened a route to Prague in 2017, and from there as a center, the trade is rising fast."

It's not just by rail route either, trade between China and Europe has taken a leap in recent years, increasing by over 50 percent since 2011. China is also working on balancing the trade, bringing mutual benefits to both sides. China's imports from CEEC companies are growing even faster, increasing by 87 percent since 2011.

SONG MINGSHUN, VICE CHAIRMAN CHINA ASSOCIATION FOR STANDARDIZATION "Countries in Central and Eastern Europe are very important to China. They have a very good industrial base, and a developed cultural and business environment. They are good partners."

More Chinese tourists are flocking to the beautiful natural environment in Central and Eastern European Countries. And products from there are also favored by Chinese consumers. And the cooperation goes even deeper, from commodities to technology. Yet, there are still some obstacles that both the government and companies need to face.

The investment in Central and Eastern European Countries from China increased by over 60 percent in 2018 from what it was a year earlier. A vital sign that shows that great potential lies ahead. Ning Hong, CGTN, Ning Bo.