General

The economic corridor of the New Eurasian Continental Bridge focuses on railway projects, and the logistics system of China Europe scheduled trains is the top priority.

Connectivity of transportation infrastructure is an important part of the construction of the "the Belt and Road". The construction of roads, railways, ports and other transportation infrastructure in the six major economic corridors is the key to opening up the economic corridor of the Asia Pacific Economic Circle and the European Economic Circle, releasing the economic development potential of countries along the line, and changing the economic and geographical pattern of China and the Eurasian continent. Recently, the Maritime Silk Road Research Institute of Overseas Chinese University and the Social Science Literature Press jointly released the "Maritime Silk Blue Book: Research Report on the 21st Century Maritime Silk Road (2020~2021)". The report shows that by the end of 2021, progress has been made in the construction of various transport infrastructure in the six major economic corridors, but there are significant differences. The China Pakistan Economic Corridor has made the fastest progress, and the Bangladesh China India Myanmar Economic Corridor has made the slowest progress, China Mongolia Russia Economic Corridor has the most completed projects, followed by China Central Asia West Asia Economic Corridor.

The economic corridor of the New Eurasian Continental Bridge focuses on railway projects, and the logistics system of China Europe scheduled trains is the top priority. In terms of railways, as of December 2021, there are 4 projects under construction, planned and completed, involving 7 road sections. The China Mongolia Russia Economic Corridor is the first of the six major economic corridors to be launched, with the largest number of traffic facility construction projects. In terms of railways, 17 sections are involved; In terms of highways, the China Mongolia Russia Economic Corridor traffic facility construction project involves 4 highway projects and 5 road sections. The transportation infrastructure construction of China Central Asia West Asia Economic Corridor is still the focus of railway projects. There are 11 projects in total, involving 14 road sections. Among them, the China Kyrgyzstan Uzbekistan Railway, which starts from Kashgar in Xinjiang and runs to the north and south respectively, and the China Tajikistan Iraq Railway have made important progress. The Pibutashkan section in Uzbekistan has been completed and put into use, and the longest section from Sherkhan to Herat has been completed. The Indochina Peninsula Economic Corridor is an economic corridor dominated by railway and highway networks, with relatively good transportation infrastructure construction. The China Laos Railway has been put into operation, and the Ya'an Wanzhou High speed Railway and the China Cambodia Cooperation Railway projects have been successfully promoted. The transport infrastructure cooperation projects between China and Pakistan are progressing well. A number of landmark transport infrastructure projects, such as ML-1 railway upgrading project, M3/M4 Multan Expressway and Gwadar Port, continue to advance. The transport facilities project of the Bangladesh China India Myanmar Economic Corridor is lagging behind, and the progress projects are mainly China Myanmar cooperation.

In addition, the report shows that ASEAN is the priority direction of China's neighboring diplomacy, as well as the pilot and pilot area for the joint construction of the "the Belt and Road". Digital economic cooperation has become the most promising development direction of China ASEAN economy. Strengthening digital economic cooperation with ASEAN and jointly building the "Digital Silk Road" will add new impetus to the development of the "the Belt and Road" and benefit the development of international trade.

In terms of opportunities, ASEAN countries such as Singapore, Thailand, Indonesia, Malaysia, Vietnam and Myanmar have formulated their own "Industry 4.0" plans, aiming to vigorously develop the digital industry and achieve digital transformation; In 2019, the average compound growth rate of the number of Internet users in the ten ASEAN countries reached 21.9%, which is one of the regions with the highest growth rate in the world. However, the digital economy in the whole region accounted for only 7% of GDP, far less than China's 34.75%. There is still much room for growth. In 2019, the total transaction volume of ASEAN's e-commerce, online tourism, online transportation, online media and other digital economy industries increased by nearly 40%, showing a trend of all-round development of the whole industry.

In terms of challenges, ASEAN's digital infrastructure still needs to be further improved, focusing on improving the penetration of information technology, transmission speed and reducing communication costs, increasing the construction of 5G cutting-edge information infrastructure, and improving the construction of cross-border payment systems; In addition, it is also necessary to improve the digital technology R&D and application capabilities of ASEAN countries, improve the digitalization level of SMEs, and solve the restriction problem of cross-border data flow.

In terms of countries, the report said that Singapore, as an important fulcrum of the 21st Century Maritime Silk Road, actively responded to and deeply participated in the "the Belt and Road" initiative and cooperation. China and New Zealand have made remarkable progress in making the "the Belt and Road" cooperation a priority in their bilateral relations, with connectivity, financial support and third-party cooperation as three major platforms.

The formal entry into force of the Protocol on Upgrading the Free Trade Agreement between China and Singapore has greatly enhanced the level of liberalization and facilitation of bilateral international trade and investment, bringing greater dividends to the international trade enterprises and people of the two countries. In addition, the cooperation between China and Singapore in new fields and new business formats such as human functions and cross-border e-commerce has also been deepening.

The key projects of China Singapore cooperation, represented by the "New Passage of International Land and Sea Trade", are advancing rapidly. As the third intergovernmental cooperation project between the two countries, the project has become the focus of China Singapore strategic cooperation on connectivity and has been listed as a national strategy that plays an important role in China's regional coordinated development. In just a few years, the project has made remarkable achievements in four key areas, including financial services, transportation and logistics, aviation industry and information and communication technology, and expanded to tourism, education, medical care and other fields. Through expanding cooperation areas, it has achieved connectivity from east to west, from north to south, and from inside to outside.

At the same time, China Singapore international trade cooperation still has much room for development. Singapore's advantages as a mediation center and an international arbitration center have not been fully utilized. The "last kilometer" connection of the "new international land and sea trade channel" needs to be strengthened, and the customs clearance procedures need to be simpler and more transparent.