Tuesday, January 3, 2017

CHINA MOVES FIRST CARGO TRAIN TO LONDON

This cargo is volume that will not move on container lines where supply exceeds demand.







China Sets Off First Cargo Train to London

By | Jan 02, 2017 06:15 PM EST
0
China Launches first Cargo Train to London.
China on Sunday flagged off the first cargo train to London. The cargo train departed from Yiwu in Zhejiang Province and will cover more than 12,000 kilometers in nearly 18 days before reaching its final destination in Great Britain. (Photo : Getty Images)
China on Sunday flagged off the first freight train to London in a bid to expand its massive rail network to different regions of the world. The Chinese government is hoping that enormous expansion of its rail network will help improve dwindling exports and stabilize the downturn in the long run.
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The cargo train departed from Yiwu in Zhejiang Province, considered as the country's foremost international commodity hub in small commodities.
The China Railway Corporation (CRC) said that the freight train will cover more than 12,000 kilometers in nearly 18 days before reaching its final destination in Great Britain.    
The CRC further stated that the cargo train service will prove to be a major boon in improving China-Britain trade ties while enhancing connectivity with the western European region and also playing a productive role in China's Belt and Road Initiative.  
The cargo train will pass through Kazakhstan, Russia, Belarus, Poland, Germany, Belgium, and France before making a final stop at London, Chinese state media reported.   
The city of London on Sunday became 15th city from the European continent to join the China-Europe freight train services.
The Chinese government has been busy unveiling big ticket infrastructure projects in a bid to revive the fading economic growth rate. The ongoing economic recession has taken toll on almost all the key economic parameters, including exports, foreign direct investment (FDI), and stock market.
The government is hoping that through investment in infrastructure and announcement of stimulus packages, the economy will stage a steady recovery in the coming months. However, economists claimed that government's extensive spending has drastically increased the country's fiscal deficit.   
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