Yingkou Port, in the northeastern province of Liaoning, has seen a rise in freight volume despite the sluggish local economy, thanks to the Belt and Road Initiative, writes Chinese news agency Xinhua.
According to the port management company, during the first 9 months of 2016, the port registered combined sea-rail freight transport volume of over 340,000 TEU, up by 9.1% year-on-year, which accounted for over 56% of all ports in northeast China.
The growth is seen as a positive result of the implementation and development of the Chinese government’s initiative One Belt One Road, thanks to which the port now has railway routes to Moscow, Russia, and Warsaw, Poland. The railway services help shorten the transit time to Europe by half compared to the traditional maritime transport, with logistics cost dropping by some USD1,000 per container. This attracts more cargo from the country’s hinterland, says the port.