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2024 Lujiazui Forum kicks off in Shanghai on Wednesday

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2024 Lujiazui Forum kicks off in Shanghai on Wednesday

2024-06-19 12:12 Last Updated At:16:57

The two-day 2024 Lujiazui Forum, a major financial event, kicked off in Shanghai on Wednesday.

The financial industry brainstorm focuses on discussions about enhancing high-quality financial development through reforms and innovations. It is aimed at tackling current global economic challenges to promote sustained global economic growth.

Themed "Promoting World Economic Growth with High-Quality Financial Development", the event includes eight plenary meetings covering current hot topics in the economic and financial fields. These include "the relationship between technological innovation and the capital market's high-quality development", "institutional innovation and market incentives for the green finance sector", and "the silver economy and aging finance".

More than 70 industry insiders, both domestic and international, were invited to the forum to deliver speeches. The attendees include heads of the People's Bank of China, the National Administration of Financial Regulation, the China Securities Regulatory Commission (CSRC), and the State Administration of Foreign Exchange.

In addition, this year's forum will host an international seminar on financial rule of law. There will also be a Scientific and Technological Innovation Finance Studio, which will focus on topics like enhancing multi-level capital flows and building highly-impactful scientific and technological innovation industries.

The CSRC will unveil new capital market policies during the forum and work with the Shanghai municipal government to support the development of the capital market, thereby enhancing the metropolis' competitiveness and influence as an international financial hub.

2024 Lujiazui Forum kicks off in Shanghai on Wednesday

2024 Lujiazui Forum kicks off in Shanghai on Wednesday

2024 Lujiazui Forum kicks off in Shanghai on Wednesday

2024 Lujiazui Forum kicks off in Shanghai on Wednesday

2024 Lujiazui Forum kicks off in Shanghai on Wednesday

2024 Lujiazui Forum kicks off in Shanghai on Wednesday

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Cargo throughput surges as China's ports streamline customs clearance

2024-07-20 07:14 Last Updated At:08:27

China's border ports have been implementing a range of cargo facilitation policies, leading to a surge in cargo throughput, with a nearly 57 percent year-on-year increase in the inspection of transportation vehicles in the first half of 2024.

According to the data recently released by the National Immigration Administration, China's ports inspected about 15.42 million vehicle, vessel, and train trips in the first six months of this year, a 56.9 percent jump from the same period last year.

The border ports have rolled out a series of measures to streamline customs clearance for cargo. At major land ports, fast lanes have been set up for the rapid release of critical supplies. At major seaports, online declaration has been enabled for border inspection boarding. In international shipping, arriving vessels can have much faster departures thanks to the efficient inspections.

The combined sea-rail transport model, utilizing maritime routes and the China-Europe freight train service, has made the port of Lianyungang in east China's Jiangsu Province one of the most convenient and economical gateways to the sea. It handles more than 80 percent of Kazakhstan's transit cargo to China.

At the port, containers carrying with auto parts, home appliances, and other products are offloaded, hoisted onto trucks, and then loaded onto China-Europe freight trains bound for destinations like Kazakhstan and Uzbekistan.

"From unloading to boarding the freight train, the entire process can now be completed in as little as eight minutes. These containers are expected to reach the border ports within six days, greatly reducing transportation time and cost," said a logistics company employee.

The Youyi Pass in the southern Guangxi Zhuang Autonomous Region, also known as Friendship Pass, on the China-Vietnam border is an important cross-national trade channel. To enhance the clearance efficiency of imported fruits, the port has established "durian-only" channels and green channels for agricultural products, as well as an intelligent inspection assistance system. A Chinese cargo truck can now clear customs in just 15 seconds.

As the country's largest land port for fruit imports and exports, the Youyi Pass saw fruit imports worth 23.92 billion yuan (about 3.3 billion U.S. dollars) in 2023, a 262.9-percent surge year on year.

Pattama Narmwong, chairman of the Thai Mangosteen Association, noted that the greatly improved clearance efficiency has considerably cut down on transportation time and costs, supporting the burgeoning development of fruit trade between China and Southeast Asian nations.

Cargo throughput surges as China's ports streamline customs clearance

Cargo throughput surges as China's ports streamline customs clearance

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