In a notable economic surge, the Xizang Autonomous Region in southwest China has reported an impressive 80.2% year-on-year growth in the import and export value of its four major land ports. The period from January to November 2023 saw a total trade value of 4.56 billion yuan (approximately 642.2 million U.S. dollars), according to the regional department of commerce.
Quick Development in International Trade: China’s Xizang Land Ports Report a YoY Gain of 80.2%
Strong Performance at Major Land Ports
The land ports contributing to this remarkable growth are Gyirong, Burang, Zham, and Lektse. During the mentioned period, these ports collectively handled 129,900 tonnes of goods, marking a substantial 47.4% increase compared to the previous year. Additionally, the number of inbound and outbound vehicles through these ports saw a significant uptick, with 11,084 trips, reflecting a remarkable year-on-year increase of 110.2%.
Impact of Resumed Customs Clearance
The surge in foreign trade at these land ports is attributed to the resumption of two-way cargo customs clearance and personnel exchanges at the ports of Zham, Gyirong, and Burang. The latest addition to the land ports, Lektse, began its operations in November of the preceding year. This development has contributed significantly to the economic prosperity of the region.
Positive Impact on Border Residents
The positive trend in foreign trade has not only impacted the economic landscape but has also led to increased incomes for residents in the border areas of Xizang. The volume of trade among border residents witnessed a substantial year-on-year increase of 32.4%, reaching nearly 1.33 billion yuan from January to October.
Overall Foreign Trade Growth
The impressive performance of the land ports aligns with the broader economic growth of Xizang. Official statistics reveal that the total foreign trade of the region expanded by 72.5% year-on-year in the first eight months of 2023. Xizang’s foreign trade partners now encompass over 90 countries and regions.
Strategic Geographic Advantage
In recent years, Xizang has strategically utilized its geographical advantages and policy resources to establish itself as a crucial channel for trade with South Asia. The region’s commitment to expanding its opening up to South Asia has yielded positive results, contributing to the overall economic growth in a broader and more profound manner.
In conclusion, the remarkable growth in foreign trade at Xizang’s land ports signifies the region’s successful economic strategies, showcasing its resilience and potential as a key player in China’s economic landscape.
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