Three transportation modes of the New International Land-Sea Trade Corridor (ILSTC) in Chongqing have reached or completed over 95% of the annual target from January to November, with good development momentum.

Three transportation modes of the New International Land-Sea Trade Corridor in Chongqing have reached or completed over 95% of the annual target from January to November.

Specifically, the numbers of rail-sea intermodal freight trains (Chongqing-Qinzhou), cross-border highway shuttle buses (Chongqing-ASEAN), and international trains (Chongqing-Vietnam) reached 1137, 2491, and 146 respectively, increasing 36.82%, 128%, and 125% year-on-year and completing 95%, 99.6%, and 112.6% of respective annual targets.

Given the rapidly growing amount of trains and buses and the rising value of cargoes, ILSTC is heading towards high-quality development.

From January to November, a total of 64,013 TEUs have been transported via ILSTC, up 41.6% over the same period last year; the total cargo value reached 12.055 billion yuan (about 1.846 billion U.S. dollars), a year-on-year increase of 32.9%. Goods transported included electronic, medical, and chemical products, auto and motorcycle parts, etc.

Meanwhile, ILSTC is expanding its membership, with 250 ports in 96 countries and regions as final destinations. ASEAN, its most vital market, sees 20 ports in eight member countries sign on to the corridor, including critical maritime transportation nodes such as Singapore, Laem Chabang, Bangkok, Haiphong, and Ho Chi Minh City.

In the first 11 months of 2020, a total of 22,065 TEUs were transported to ASEAN via ILSTC, accounting for 34.5% of the corridor's total freight volume; the concerning cargo value totaled 7.28 billion yuan, taking up 60.4% of the corridor's overall cargo value and 82% of the overall foreign trade cargo value.

"Vietnam is the country with the highest number of containers and the highest cargo value among all countries joining the corridor,” said Liu Wei, Head of the ILSTC Operation and Organization Center.

He also mentioned that the number of containers and cargo value of Vietnam occupied 50.1% and 75.9% of the ASEAN's respective numbers from January to November.

As of November 30, a total of 150,901 TEUs, worth 27.844 billion yuan, have been transported via ILSTC.