State Council recognizes Liangjiang's service trade innovations

Three innovative service trade practices in Liangjiang New Area, in Southwest China's Chongqing municipality, were recently honored by the State Council, including a dedicated channel for international internet data, the sea-rail intermodal transport system and bill of lading trading for railway shipments.

The international internet data dedicated channel under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity is China's first point-to-point data dedicated channel.

The reliable high-speed, wide-bandwidth and low-delay channel can advance cooperation on remote medical treatment, remote education, intelligent tourism and intelligent logistics between China and Singapore. The channel can also provide ultra-high definition video transmission between the countries.

As a developer of the New International Land-Sea Trade Corridor, Liangjiang advanced the sea-rail intermodal transport system, which only requires one-time entrusting, one-time waybill and one-time fee collection during the whole process.

Through this shipping scheme, goods can reach anywhere in the world via sea transport from South China's Beibu Gulf, which cuts transit time by 10 days compared with shipments leaving from East China by sea.

With the operation of China Railway Express normalizing, Liangjiang has created a railway bill of lading that can finance and settle accounts. The new business model for overland trade promotes the development of the international railway intermodal transport system and transport-related services such as financing, insurance and settlement.

According to statistics from the Ministry of Commerce, the service trade volume in Liangjiang reached $5.9 billion in 2019, and the execution amount of offshore service outsourcing was $275 million.

Currently, Liangjiang Digital Economy Industrial Park has attracted nine big data centers and about 10 large-scale cloud platforms, becoming the largest cloud computing industrial base in West China.

Liangjiang will further promote service trade pilot areas, expand the service trade cooperation network, perfect its service platforms and improve the service trade environment.