New logistics channel in Qingdao boost China's trade with RCEP members
QINGDAO -- Port cities across China have sped up the building of new logistic channels with Asia-Pacific countries that have signed the Regional Comprehensive Economic Partnership (RCEP) free trade pact to further boost trade ties.
More than half a year after the RCEP deal came into effect, a new roll-on roll-off sea express route between Qingdao and Japan's Osaka was officially launched on June 18, the sixth maritime route opened in Qingdao under the RCEP.
Through this route, vessels can be directly boarded with loading equipment such as forklifts and trucks, with shipping speed almost doubled. As a result, the entire voyage can be shortened by 24 hours.
The express is expected to handle 20,000 twenty-foot equivalent unit containers with a trade volume of around 10.5 billion U.S. dollars by the end of this year.
The new route has greatly reduced the logistics costs for cross-border trade.
"With the operation of the new express, our overall logistics costs can be lowered by 80 percent," said Geng Pingping, director of cross-border e-commerce business of Qingdao Tongda Global Supply Chain Management Company.