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Zhejiang draws new blueprint for Yiwu-Ningbo-Zhoushan corridor

ezhejiang.gov.cn| Updated: July 22, 2021 L M S

Zhejiang authorities recently published the development program for the Yiwu-Ningbo-Zhoushan corridor during the 14th Five-Year Plan (2021-25) period.

The program is closely linked to a number of Zhejiang cities, including Ningbo, Shaoxing, Jinhua, Quzhou, Zhoushan, and Yiwu.

By the end of 2025, the corridor will consolidate its position as an economic powerhouse that benefits the Yangtze River Economic Belt, the region south of the Yangtze River, and the 21st-Century Maritime Silk Road.

Between 2021 and 2025, the corridor will add 636 kilometers to the total length of operational railway lines as well as another 250 kilometers of expressways.

By 2025, the Yiwu-Xinjiang-Europe freight train service is expected to run 3,000 times annually and become one of the most lucrative and competitive China-Europe freight train services.

The corridor will account for more than 60 percent of the province's foreign trade volume. The annual transaction volume in Yiwu for small commodities, both online and offline, is expected to reach 700 billion yuan ($109.5 billion), while the transaction volume for bulk commodities in the corridor's free trade pilot zones will top one trillion yuan. In addition, exports made through cross-border online retailers based in the corridor are expected to make up more than 60 percent of the provincial average.