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International trade

China's Silk Road Maritime Forum Boosts Global Trade and Promotes Connectivity

Strategic Insights

— 2 min read

The 7th Silk Road Maritime International Cooperation Forum, held in Xiamen, East China's Fujian Province, gathered over 1,500 participants from more than 30 countries and regions, showcasing China's commitment to promoting maritime connectivity and resilience in the face of growing global trade uncertainty. The forum, which concluded on Tuesday, featured keynote speeches, panel discussions, and a signing ceremony for 10 cooperation agreements between 27 Chinese and foreign enterprises. Chinese and international officials emphasized the importance of stronger regional integration of ports, shipping, and trade within the framework of regional cooperation.

Key Takeaways:

  • The Silk Road Maritime International Cooperation Forum aims to strengthen the connectivity of maritime transport on the Maritime Silk Road and promote exchanges and cooperation within the port and shipping industries.
  • China's approach to promoting maritime connectivity within the Belt and Road Initiative (BRI) is sustainable and market-oriented, attracting significant interest from international participants.
  • The forum has helped boost maritime trade and inject greater certainty into global trade and shipping, with officials expressing hopes for increased connectivity, resilience, and prosperity amid growing global trade uncertainty.
  • Andrzej Juchniewicz, China representative office chief of the Polish Investment and Trade Agency, emphasized that Silk Road Maritime is no longer a Chinese initiative or program, but a market-driven, shared-value platform that has transcended multilateral dialogue and grown into a global hub integrating ports, logistics, trade, and finance.
  • The Silk Road Maritime network has handled over 24 million standard containers, operated over 20,000 container sailings, surpassed 27 million tons in general cargo throughput, and recorded trade worth over 26 billion yuan ($3.6 billion).
  • Chen Zhiping, chairman of Fujian Provincial Port Group, highlighted three priorities for achieving fresh momentum in China's opening-up and adding certainty to global trade: building an integrated sea-rail-road-air logistics grid, enabling seamless data flows among ports, shipping lines, and traders, and promoting port-shipping-trade integration.
  • Technology and green development were highlighted at the forum, with the unveiling of China's first-ever green evaluation system for ports and shipping lines.

Statistics:

  • Over 1,500 participants from more than 30 countries and regions attended the 7th Silk Road Maritime International Cooperation Forum.
  • The Silk Road Maritime network has handled over 24 million standard containers.
  • Over 20,000 container sailings were operated by the Silk Road Maritime network.
  • The network surpassed 27 million tons in general cargo throughput.
  • Trade worth over 26 billion yuan ($3.6 billion) was recorded by the Silk Road Maritime network.
  • The Silk Road Maritime network now covers 148 routes departing from 13 domestic and foreign ports and reaching 150 ports in 48 countries.

Sources:

  • Global Times
  • United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP)
  • World Trade Organization
  • Polish Investment and Trade Agency
  • International Chamber of Shipping
  • International Association of Ports and Harbors
  • Maritime and Port Authority of Singapore

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