China’s Gansu Sees Trade With Belt And Road Countries Surge

Foreign trade in northwest China’s Gansu Province continued to grow last year, with its trade volume with countries along the Belt and Road registering a year-on-year growth of 23.8 percent, data from local customs shows.

   In 2022, the total value of Gansu’s foreign trade reached 58.42 billion yuan (about 8.5 billion U.S. dollars), up 18.8 percent year on year. The province’s imports from and exports to Belt and Road countries accounted for 47.6 percent of the total foreign trade, totaling 27.83 billion yuan.

   Taking full advantage of its geographical location, Gansu has been promoting the development of the logistics industry in recent years. In 2022, a total of 440 cross-border freight train trips were made from Gansu, delivering a cumulative cargo weight of about 232,600 tonnes with a market value of over 290.6 million U.S. dollars.

   In terms of foreign investment, Gansu saw the establishment of 29 new foreign-invested enterprises, with the actual utilization of foreign capital reaching 124.8 million U.S. dollars, up 15 percent year on year.