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The Research Institute of International Trade and Economic Cooperation of the Ministry of Commerce recently released China's "Belt and Road" Trade and Investment Development Report 2022 in Beijing. This is the fifth consecutive year since 2018 that the Research Institute of the Ministry of Commerce has released a series of reports.

In 2021, the trade volume with countries along the line will increase by 32.6% year on year

The Report shows that in 2021, the volume of trade in goods between China and countries along the "Belt and Road" will reach a new high of 1.8 trillion US dollars, up 32.6% year on year. ASEAN has become the region with the most concentrated trade in goods between China and the countries jointly building the "Belt and Road". The total volume of trade in goods between China and ASEAN reached 878.21 billion US dollars, accounting for 48.9% of the total volume of trade in goods with countries along the Belt and Road, and 34.8% of the total volume of trade in goods with countries jointly building the "Belt and Road".

Industrial chain supply chain cooperation is closer. In 2021, China's exports of mechanical and electrical products and labor-intensive products to countries along the "Belt and Road" will be 3.55 trillion yuan and 1.25 trillion yuan respectively, up 18.8% and 15.2% year on year, accounting for 72.9% of China's total exports to countries along the "Belt and Road".

The construction of new land sea channels has been steadily promoted. It is conducive to the steady development of international trade. By the end of August 2022, the logistics network formed by sea transportation, railway, air transportation and other means has covered 335 ports in 113 countries and regions around the world, becoming the most convenient channel for goods in and out of central and western China, helping the central and western regions to achieve high-level opening, and further integrating into the global industrial chain.

Reach consensus on third-party market cooperation with 14 countries

As of July 2022, China has signed more than 200 cooperation documents with 149 countries and 32 international organizations to jointly build the "Belt and Road", covering connectivity, investment, trade, finance, science and technology, society, people's culture, people's livelihood, oceans, e-commerce and other fields, covering 27 European countries, 38 Asian countries, 52 African countries, 11 Oceania countries, 9 South American countries and 12 North American countries.

The Report pointed out that China and the countries jointly building the "Belt and Road" have continuously enriched the content of cooperation and strengthened mechanism coordination. By the end of 2021, China has established a working group on smooth international trade with 17 countries, an investment cooperation working group with 46 countries and regions, a bilateral e-commerce cooperation mechanism with 23 countries, and a service trade cooperation mechanism with 14 countries.

Third party market cooperation has been steadily promoted. In recent years, China has reached a consensus on third-party market cooperation with 14 countries, including France, Italy, Japan and the United Kingdom, to build mutually beneficial and win-win cooperation for international trade enterprises. In October 2021, China and Italy held the sixth meeting of the Sino Italian Third Party Market Cooperation Working Group, and reached an agreement on the list of key projects for the second round of Sino Italian third party market cooperation, including 14 projects in the fields of petroleum, chemical industry, finance, etc. In January 2022, China and the United Kingdom held the first meeting of the China UK Third Party Market Cooperation Working Group. The two sides had in-depth exchanges on the positive progress made since the establishment of the third party market cooperation mechanism, demonstration projects, application of research results, progress in mutual investment between China and the United Kingdom, China UK railway cooperation, and future cooperation plans.

Establish scientific and technological cooperation with 84 co founding countries

According to the Report, the "Belt and Road" initiative is people-oriented, with the goal of "high standards, sustainability and benefiting the people's livelihood". The "Healthy Silk Road" has built a deep barrier for life, the "Green Silk Road" has tightened the common bond for sustainable development, the "Innovative Silk Road" has created a strong engine for common development, and the mutual learning of civilizations has built a road of hope for mutual benefit and win-win results and a bridge of people's hearts, It is conducive to the steady development of international trade. As of November 2021, China has sent 23000 medical personnel to Africa, diagnosed and treated 230 million patients, helped 18 African countries establish 20 specialized centers, and established a counterpart cooperation mechanism with 45 African hospitals in 40 African countries. By the end of 2021, China has established scientific and technological cooperation relations with 84 co established countries, supported 1118 joint research projects, and launched the construction of 53 joint laboratories in agriculture, new energy, health and other fields.