China's border province seeks to triple trade with Russia by 2025 via Silk Road belt
KHABAROVSK. Oct 13 (Interfax) - The Silk Road's eastern maritime and land economic zone in the Heilongjiang province has been added to the state plan of the People's Republic of China, the Heilongjiang Province's Applied Economic Association Chairperson Zhang Chunjiao told Interfax, quoting official data.
"Secretary of the Heilongjiang province party [Chinese Communist Party] committee Wang Xiankui said the project had been included in the state plan and the Silk Road belt would eventually become an essential element of the external economic corridor connecting the East to the West and the North to the South. According to Wang, the Heilongjiang province will seek to increase trade turnover with Russia to $25 billion by 2015, $50 billion by 2020 and $70 billion by 2025," she told Interfax.
Trade turnover between Heilongjiang and Russia stood at $22.36 billion in 2013, which was a 5.8% year-on-year growth. The Heilongjiang customs department estimated the trade volume at $8.8 billion in January-May 2014, only 0.3% larger than in the corresponding period of 2013. The provincial government wishes to triple the indicator in twelve years.
"The Silk Road belt project stipulates the development of a strategic corridor consisting of the Suifenhe-Manchuria-Russia-Europe rail line and the Suifenhe-Russian Far East sea route. It will be linked to the Russia-Europe-Asia rail line (Trans-Siberian railroad) to reach its full capacity," Zhang emphasized.
The transport corridor will carry cargo not only from north-eastern China, but also from the Yangtze and Zhu Jiang River deltas, Beijing, Tianjin, the Hebei province and Russia, she said.
"Since the beginning of this year, there has been daily traffic of international freight trains along the routes Sozhou-Manchuria-Europe, Shenyang-Harbin-Europe and Tianjin-Harbin-Europe. The Silk Road belt will cut transportation expenditures, develop transborder logistics and foster modernization of industries in border areas of China and Russia," the Chinese economist said.