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Belt and Road Initiative boosts Zhangjiagang's foreign trade

( chinadaily.com.cn )

Updated: 2015-10-22

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Zhangjiagang's imports increased steadily in the first three quarters of 2015 as the country strengthened economic ties with South Asian countries, according to data released by Zhangjiagang Entry-Exit Inspection and Quarantine Bureau.

As per the data, Zhangjiagang's vegetable oil imports rose 71.8 percent year on year to 304000 tons worth $ 240 million in the third quarter of the year.

And since China launched Belt and Road Initiative in 2013, it has maintained closer business ties with South Asia. In recent years, the country has imported large amount of vegetable oil from South Asian countries such as Indonesia and Malaysia.

China's Belt and Road Initiative refers to the Silk Road Economic Belt and the 21st Century Maritime Silk Road and was proposed by President Xi Jinping. It has the goal of reviving ancient trade routes between Asia and Europe. The network passes through more than 60 countries and regions, and covers a total population of 4.4 billion.

Edited by Shahnawaz Akhtar

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