Chongqing State-Owned Enterprises Forge Strategic Alliance to Develop ILSTC

Chongqing - On January 16, key state-owned enterprises in Chongqing, including Chongqing Machinery & Electronics Holding (Group) Co., Ltd., Chongqing Logistics Group, and Minsheng Industrial (Group) Co., Ltd. signed a strategic agreement to develop the New International Land-Sea Trade Corridor (ILSTC).

The agreement outlines extensive cooperation between the three parties, focusing on industrial development, expanding Chongqing's automotive industry internationally, exploring global logistics markets, enhancing overseas warehouse collaboration, improving ILSTC efficiency and quality, and ensuring supply chain security.

Key state-owned enterprises in Chongqing teamed up to develop the New International Land-Sea Trade Corridor (ILSTC) on January 16. (Photo/Chen Zhan)

In an interview with Bridging News, representatives from the signing companies shared their perspectives on the collaboration.

Zhou Kui, deputy general manager of Chongqing Machinery & Electronics Holding (Group) Co., Ltd., explained that the group will focus on routes such as the China-Laos-Thailand and China-Laos-Malaysia railways to export special vehicles, auto parts, high-end equipment, and other products based on the cooperation. 

The group will also target Southeast Asia as a potential market. By leveraging resources from all parties, it seeks to achieve deeper integration of the industrial chain and thus enhance its competitiveness in the international industrial landscape.

Liu Yong, deputy general manager of Chongqing Logistics Group, emphasized the importance of the ILSTC to the group's logistics construction. As a state-owned enterprise specializing in logistics, the group sees this partnership as a key step in integrating logistics, transportation channels, and industrial advantages. 

This collaboration will help reduce overall logistics costs and establish a solid foundation for the group's development of an international logistics channel powered by the ILSTC. 

Huang Xin, general manager of Minsheng International Freight Forwarding Co., Ltd., a subsidiary of Minsheng Industrial (Group) Co., Ltd., shared that the group has expanded its product range and sources along the ILSTC. Current exports via the China-Laos-Thailand and China-Laos-Malaysia routes include chemicals, vehicles, machinery, building materials, and daily consumer goods, while imports include agricultural products such as fruit and cassava starch.

The meeting underscored the significant role of state-owned enterprises in developing the ILSTC, contributing to the construction of trade corridors, logistics platforms, ports, and industries.

This year, the Chongqing Municipal State-owned Assets Supervision and Administration Commission plans to host key events, including international economic and trade matchmaking meetings for the ILSTC. The commission aims to secure annual contracts worth at least 10 billion yuan (about 1.37 billion USD).