Yiwu is a world-known wholesale market where cheap finds of all sorts can be bought. (Photo : wikipedia.com)
A cargo train service recently returned after finishing its maiden run between Spain’s Madrid and China’s commodity center, Yiwu, increasing the possibility of a rise in Chinese exports to the continent of Europe.
"The cargo train will boost economic exchange between Yiwu, the world's largest small commodity market, and Madrid, Europe's largest small commodity market," Li Huihuan, manager of Yiwu C. F. International Logistics Co. Ltd., remarked.
According to Xinhua News Agency, the 64-container train service with popular Spanish commodities like wine and olive oil ran along the Yixin'ou cargo line, the longest among China-European railways.
The 13,000-kilometer route, one of the longest in the world, passes through China, Spain, Germany, France, Poland, Belarus, Kazakhstan and Russia.
The cargo train service, which initially opened at the end of 2014, traveled for 24 days.
Yiwu, an eastern China city, is the country's biggest commodity hub. It has earned the title of being the world's wholesale center where all sorts of goods at the most economical deal can be bought.
Traders from all over the globe visit the city annually to take advantage of the cheap prices of the commodities. One of the top importers of Yiwu products are the Indians.
Before the inauguration of the cargo train service, the city channels its exports by sea and air transportation.
In a report by the city customs, the commodity center's import and export volume in 2014 amounted to 148.6 billion yuan ($23.7 billion).
Along with the train service's launch, Chinese President Xi Jinping also announced the government's intensified effort to build the modern-century Silk Road Economic Belt and Maritime Silk Road. The projects aim to boost China's regional and global trade statistics.