China-Mongolia-Russia Economic Corridor to develop multimodal transportation

China-Mongolia-Russia Economic Corridor to develop multimodal transportation
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China intends to accelerate the review and conclusion of cooperation agreements with Russia, Vietnam, and Mongolia in the area of rail service development, China Daily said with reference to Chinese officials.

According to the National Railway Administration, Beijing intends to create an effective platform for interaction with all interested parties in order to accelerate the conclusion of these agreements.

In 2017, container rail freight in China has grown by 37% compared to the same period last year. And this has become a new growth point for companies operating in this field, particularly, the matter concerns freight train services running between China and Europe with characteristics such as a longer distance and increased goods volume.

Currently, a total of 48 Chinese cities, such as Chengdu, Zhengzhou, and Guangzhou, serve freight services to 42 cities in Europe, including Moscow, Duisburg, and Madrid. So, in the period from 2012 to 2017, over 10 thousand railway flights from China to Europe had been carried out.

The implementation of the China-Mongolia-Russia economic corridor project, as well as the creation of various land channels between the ASEAN member states, will not only stimulate trade and investment activities but will also develop multimodal transportation, China Daily highlights.