Chengdu's influence being felt across the world
CHENGDU, China, June 11, 2024 /PRNewswire/ — Openness is a defining characteristic of contemporary China. In recent years, Chengdu, capital of Sichuan province, has used its location as a key hub in the Belt and Road Initiative and as a starting point of the ancient Southern Silk Road. By deepening international exchanges and cooperation, Chengdu has enhanced its level of openness, achieving breakthroughs and advancements.
On May 25, the first China–Europe freight train (Chengdu–Russia) passed though Alashankou in the Xinjiang Uygur autonomous region on its way to Russia loaded with 55 containers of televisions, shoes and clothing. The train had initially departed from the Chengdu International Railway Port. The launch of this rapid train will improve the transportation efficiency from Chengdu to Russia.
Launched in 2013, the China–Europe freight train has passed through numerous regions, connecting Eurasia and echoing globally. This international trade transport route, the Silk Road on land, has provided Chengdu with momentum to expand its foreign trade. To date, Chengdu has operated nearly 30,000 international trains, connecting 112 cities abroad, with the cumulative operation volume of China–Europe freight trains (Chengdu–Chongqing) ranking first nationwide.
As the Silk Road on land accelerates its extension, the airborne Silk Road is soaring. To date, Chengdu has resumed and expanded its regular direct international and regional flights – 49 passenger routes and 22 cargo routes – forming a basic network of intercontinental passenger routes to Europe, America, Australia and Africa, with major Asian destinations also covered.
These interconnected channels have not only attracted clusters of enterprises, but enhanced the convenience for businesses to expand into international markets.
Service trade, an important component of international trade and a crucial area of international economic and trade cooperation, has seen significant growth in Chengdu.
On Dec 11, 2023, SystImmune, Sichuan Biokin Pharmaceutical’s wholly-owned subsidiary, and Bristol Myers Squibb reached a global strategic cooperation agreement for the development and commercialization rights of BL-B01D1, an antibody-drug conjugate. The potential total transaction value of the agreement could reach up to $8.4 billion, breaking the record for Chinese innovative drugs going abroad.
Biokin Pharmaceutical’s success is a glimpse of the rapid rise of Chengdu’s service trade. According to data provided by Chengdu Bureau of Commerce, in the first quarter, the city’s total service import and export volume increased by 84.3 percent year-on-year, making the service trade a force in promoting the high-quality development of foreign trade.
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