Gansu heats up Belt and Road trade

At the 118th Canton Fair which concluded on Nov 4, Gansu inked contracts worth $74 million with countries along the Belt and Road Initiative, including India and Belarus. The amount was 20 percent higher than last year.

According to Gansu's Provincial Commerce Department, due to the weak world economy, 78 Gansu enterprises had a total transaction volume reaching $154 million, a decrease of 1.72 percent from last year. Transactions with European and American countries especially decreased.

Gansu has business offices in India, Kazakhstan and several other countries along the Belt and Road, producing significant outcomes at the fair. Gansu's trade with India was 240 percent more than last year, and trade volume with Belarus doubled.

The province is now looking to exporting more agricultural, medical, and minority products, the provincial commerce department says.

Related Information

The Belt and Road Initiative refers to China's initiatives on building the Silk Road Economic Belt and the 21st Century Maritime Silk Road.

Promoted by Chinese President Xi Jinping, the strategy aims to enhance China's cooperation and communication with other countries.

The Silk Road Economic Belt stretches northwest from China's coastal area through Central Asia, the Middle East and on to Europe, and the 21st Century Maritime Silk Road will run through the country's south to Southeast Asia.

Edited by Andrew Ancheta