China’s foreign trade recorded a steady growth in the first five months of 2019, in spite of increasing uncertainties. Namely, China’s foreign trade of goods grew by 4.1% year on year in the first five months of 2019, reaching 12.1 trillion yuan, according to data from the General Administration of Customs.
One Belt One Road
Global economic consultants of Centre for Economics and Business Research in the UK launched a study, according to which the global economic impact of the Belt and Road Initiative is most likely to boost world GDP by $7.1 trillion per annum by 2040.
CSP Abu Dhabi Terminal at Khalifa Port has received two of the world’s largest mega-vessels within less than a month. The two COSCO-owned ships, ‘SOLAR’ and ‘PISCES’, are the third and fourth main line vessels to pass through CSP Abu Dhabi Terminal.
Insurwave Limited, a marine insurance blockchain joint venture company from EY and Guardtime, announced a new agreement with Zhuhai Port Holdings Group to collaborate on the development of frictionless trade processes across China’s Greater Bay Area, and onward into international supply chains.
According to Xinhua, experts in Greece praised the development the Port of Piraeus is experiencing, under the China-proposed Belt and Road Initiative (BRI) during a two-day seminar. The event was a joint initiative by the Aikaterini Laskaridis Foundation in Greece and the Tsinghua University in China.
According to Xinhua, the government of Nepal is working to send two government teams to China, to study the possibility of Chinese ports being used as a third country trade. This step follows Nepal and China’s signed protocol concerning the transit transport agreement.
The Chinese Port of Guangzhou and Brazilian Port of Acu entered an agreement on May 8, establishing a sister-port relationship. With the sign of this agreement, Acu will establish a much closer cooperation regarding information exchange and collaborative development with Guangzhou. This development is considered important for the Maritime Silk Road.
China officially launched Thursday the International Coalition for Green Development on the Belt and Road, which could serve as an international platform for Chinese and foreign leading agencies to cooperate in research and make recommendations on key issues, as well as facilitate international dialogue.
China National Oil and Gas Exploration and Development Company Ltd (CNODC) and China National Offshore Oil Corporation (CNOOC) have signed a binding agreement with Russian natural gas producer Novatek, to enter the Arctic LNG 2 project.
In light of the 70th anniversary of the founding of the Chinese People’s Liberation Army Navy in Qingdao, east China’s Shandong Province, on April 23, 2019, Chinese President and Central Military Commission Chairman Xi Jinping conducted a group meeting focusing on the importance of maritime peace and a future maritime community.
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