China boosts trade with South America through new route

The ship COSCO Shipping Argentina departed from Tianjin Port on Monday, marking the Beijing-Tianjin-Hebei region's first direct shipping route to the eastern coast of South America.

This new route, operated by 12 vessels with a capacity of 14,000 standard containers each, will run on a weekly basis.

It will provide a more convenient maritime passage for importing soybeans, iron ore, coffee beans, cocoa, sugar, beef and other products from South America, and for exporting Chinese daily necessities, chemicals, automobiles and parts, steel, furniture and other categories.

The new route has reduced the delivery time from Tianjin to Brazil from 54 days to just 40 days.

Additionally, the capacity for refrigerated cargo has increased by 81 percent, facilitating trade between China's northern regions and countries and regions in South America, according to Tianjin Port.

China has been Brazil's largest trading partner for 15 consecutive years, and Brazil is China's largest trading partner and direct investment destination in Latin America.

According to Tianjin Customs, in the first quarter of 2024, Tianjin Port's imports and exports with Brazil reached 28.82 billion yuan ($3.99 billion), a year-on-year increase of 36.6 percent.

The exports were valued at 6.22 billion yuan, up 5.9 percent year-on-year, and imports reached 22.6 billion yuan, up 48.4 percent year-on-year.

To ensure the smooth operation of the new route and efficient customs clearance for import and export goods, Tianjin Customs has established a coordinated mechanism involving customs, ports, logistics and enterprises. These measures provide enterprises with a convenient customs clearance experience.