Yinchuan company builds cross-border bulk commodity trade platform

A Yinchuan-based company has built a cross-border bulk commodity trade platform, helping the Ningxia Hui autonomous region open northward, connect westward, and energize the China-Mongolia-Russia Economic Corridor.

The platform helps domestic companies match with buyers in other countries directly, according to Qin Xiuguang, president of Ningxia Qinlian Energy Group. Contracts, logistics, and customs clearance can be completed online.

Launched in July 2022, the platform now covers 25 Belt and Road partner countries, including Mongolia, Russia, and countries in Central Asia and the Middle East.

More than 100,000 companies have applied to access the platform, of which over 3,000 have been approved. Their listed products cover industrial and mining products, agricultural and forestry materials, building materials, chemicals, and new energy.

In May last year, the platform launched an express channel for fruits and vegetables. It gathers produce from across China for shipment to Central Asia, while distributing Central Asian forage, industrial and mining products, and other goods across China.

Six months later, in November, the platform introduced a service directly targeting the China-Mongolia-Russia Economic Corridor to expand cross-border bulk commodity trading and upgrade trilateral cooperation in agricultural and sideline products, energy, building materials, and machinery and equipment.

Qin said the platform hopes to become an important digital hub for bulk commodity trade among Belt and Road partner countries.