China to provide financial support for high-quality development of landmark trade corridor

BEIJING, Dec. 24 -- China will provide financial support for high-quality development of the New International Land-Sea Trade Corridor, according to a document jointly issued by eight government departments.

The document, jointly issued by the People's Bank of China, the National Development and Reform Commission and other departments, proposes 21 specific supportive measures, focusing on giving full play to the core functions of financing and settlement.

The corridor connects the Silk Road Economic Belt in the north with the 21st Century Maritime Silk Road in the south, coordinating with the Yangtze River Economic Belt and playing a crucial role in China's coordinated regional development strategy. Since its pilot run in 2017, it has evolved into a strategic route linking China's inland regions with the markets of ASEAN countries and other parts of the world.

Efforts will be made to establish a digital financial service platform, as well as improve the financial opening up and cooperation system, the document stated.

It noted that these measures will help foster a new pattern of all-around opening up, linking the land routes and the sea routes and involving both the eastern area and the western area.

Source: Xinhua

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