Business
Fujian Province in east China opened its first direct shipping route to Timor-Leste on Sunday, with the voyage taking only seven days, saving 15 days compared with the previous transshipment mode.
The move is expected to give a boost to trade between the world's second largest economy and the Southeast Asian country.
A cargo ship loaded with 1,357 tons of screw-thread steel bars, trucks and engineering vehicles left the Huajin Terminal of Quanzhou Port for Dili Port in Timor-Leste, marking the official launch of the fastest sea lane linking China with Timor-Leste.
According to Xiamen Customs which administers Quanzhou Customs, Quanzhou City's exports to the Belt and Road Initiative partner countries came in at 124.36 billion yuan (about 17 billion U.S. dollars) in 2024, up 5 percent year on year and accounting for 62.6 percent of its total foreign trade.
As of February 23, Quanzhou Port has opened 36 shipping routes for Belt and Road cooperation.
The Belt and Road Initiative, proposed by China in 2013, aims to build a trade and infrastructure network connecting Asia with Europe, Africa and beyond.
So far, more than 150 countries and over 30 international organizations have signed Belt and Road cooperation agreements, with the initiative extending from the Eurasian continent to Africa and Latin America.