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  • First Launch of the 13th Line (Yiwu – Hanoi) of Sino - Euro Railway

  • Source:Yiwu · China Commodity Index Author:Yiwu · China Commodity Index 2020-10-29
  •     In the morning of October 10th, the launching ceremony of the Sino - Euro Railway” (Yiwu – Hanoi line) was held at Yiwu West Railway Station. This is the first time that the Sino - Euro Railway has opened a southbound channel for Southeast Asian countries and regions. It is the 13th line of Sino - Euro Railway and also the first line since the approval of the Yiwu free trade zone. The train will go to Anyuan Station in Hanoi, the capital of Vietnam, indicating the seamless connection of the Sino - Euro Railway towards the west and the south.
        China is the largest trading partner, the first source of imports and the third largest export market of Vietnam. Yiwu and Vietnam have achieved good economic and trade cooperation, with the bilateral trade reached a new level year after year. In 2019, the total import and export volume of Yiwu to Vietnam was RMB 2.857 billion, with a year-on-year increase of 59.01%; among which, RMB 2.433 billion was for the export, with a year-on-year growth of 55.96%, and RMB 424 million was for the import, with a year-on-year growth of 79.11%. From January to August 2020, the total import and export volume reached RMB 3.241 billion, with a year-on-year growth of 75.09%; among them, the export volume reached RMB 2.953 billion, with a year-on-year growth of 81.4%, and the import volume reached RMB 288 million, with a year-on-year growth of 29.06%.
        With the continuous opening-up of the Vietnamese market, the investment cooperation between China and Vietnam will become increasingly close, which will provide rich sources of commodities for Sino - Euro Railway to Vietnam. Zhejiang exports a large number of machinery and equipments, electronic products, textile yarns, fabrics and fabric products, clothing and clothing accessories to Vietnam every year, and tropical fruits, rice, coffee and dried fruits produced in Vietnam are also favored by domestic consumers.