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There has been a change in the composition of China's exports in recent years, with the focus shifting to high-value items such as smartphones, vehicles, auto parts, computers and high-end electronic components. 'January, following the peak shipping season in October, is also regarded as a minor peak season,' he said, adding that Chinese suppliers have been working hard to arrange shipments before the Spring Festival holiday in February. The group, based in Yiwu, Zhejiang province, provides freight services for the China-Europe rail route that links Yiwu with Madrid, Spain.Ĭhen said the freight rates have also spiked by 10 to 20 percent in January, compared with the previous month, in line with the increase in demand.

Previously, customers would book their containers two weeks prior to departure, said Chen Kaifeng, director of YXE Trading Service Group's business development department. When container ships avoid the Suez Canal and instead navigate around the southwestern tip of Africa - the Cape of Good Hope - it increases sailing costs, extends shipping duration and creates corresponding delays in delivery schedules.Īll freight train cars on the Yiwu-Madrid service route are fully booked for January with many exporters securing their slots in December. The orders for China-Europe freight trains - an important supplementary mode of transportation of goods between the two major trading partners - have surged in recent weeks, they said. The current reluctance of global shipping companies to transit through the Suez Canal has affected China-Europe trade and exerted pressure on operational costs of businesses on both sides.

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Ĭhina-Europe freight train services will continue to play a key role this year, facilitating foreign trade amid China's ongoing industrial upgrade and a growing inclination among companies to seek greater efficiency while circumventing geopolitical uncertainties, said analysts and exporters. This aerial photo shows a freight train bound for Ulan Bator, Mongolia, pulling out of a station in Tianjin Port in north China's Tianjin, Sept.

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