Based on the news, US-China trade war mania has cooled, at least for now. And a temporary state of normality is settling in, with a finite deadline – the trade tariff hiatus agreed to between President Xi Jinping and President Trump is only 90 days, and as the logistics community knows, time flies when you’re shipping freight.
Behind the scenes, something interesting is happening in East-West trade that doesn’t involve tariffs, particularly in terms of how local Chinese companies sell globally.
And that’s where it is helpful to look at China’s most recent move to help Chinese manufacturers go global and reach Western buyers at scale. What’s exciting for us is that Freightos is now officially part of that plan.
You may or may not have heard of the famous Port of Ningbo-Zhoushan, the largest port in China and the fourth largest port in the world, neighbor to e-commerce giant Alibaba.
How big you ask? Well, Ningbo Customs received 7.73 million cross-border e-commerce import orders on Singles Day. That’s a lot of freight!
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The Port of Ningbo-Zhoushan is a strategic part of the nation’s Belt and Road Initiative (BRI) and digitization efforts. Earlier this month at the second annual China (Ningbo) International Shipping Logistics Fair, held in Ningbo, Zhejiang Province, 13 project agreements were signed. And yes, Freightos was there, signing one project that includes two interesting initiatives.
The first involves data collaboration aimed at bringing transparency to the freight industry. Despite having a state level index of their own, the Ningbo Shipping Exchange, the Ningbo Shipping Exchange Team is extremely impressed with Freightos Baltic Index – the world’s largest global freight index – and are eager to explore how to leverage such deep industry insight.
The second involves teaming-up with Ningbo E-booking Platform, the government backed e-commerce branch for shipping. To give you an idea of the strategic importance of the Ningbo E-booking Platform, it’s the core platform to provide Chinese manufacturers and freight forwarders a full suite of digital shipping services from quoting, booking, and paying, all the way to cargo tracking.
Ningbo E-booking Platform is the only e-government and e-commerce integrated shipping information platform of Ningbo Port. And Freightos is the partner they’ve chosen to enhance their digitization efforts. This partnership indicates we are experiencing very exciting times in freight and proof that innovative teams will find ways to continue collaborating to provide innovative solutions regardless of the challenges.