In an era of rapidly evolving global trade dynamics, governments and businesses worldwide are increasingly focused on effectively capturing market trends. The recent signing of a memorandum of cooperation between the General Administration of Customs Global Trade Monitoring and Analysis Center and the Ningbo Shipping Exchange represents a significant step toward this objective.
The newly established partnership aims to deepen collaboration in several critical areas, including global goods trade research and the development of export leading indicators and the Maritime Silk Road Trade Index. This initiative promises to deliver more precise data support and strategic guidance for small and medium-sized enterprises as well as government agencies, ultimately supporting the development of the Maritime Silk Road initiative.
The Global Trade Monitoring and Analysis Center, a key division of China's Customs Administration, specializes in tracking and analyzing trade flows, structures, volumes, and velocity patterns worldwide. Li Kuiwen , Director of the Customs Statistical Analysis Department, emphasized the significance of this agreement as the first memorandum signed with a local institution following recent organizational reforms.
"This collaboration will significantly advance our work on the top-level design of the Maritime Silk Road Index and the development of related trade indices," Li stated during discussions with reporters. He further committed that the Customs Statistical Analysis Department would continue providing comprehensive policy and technical support to ensure smooth implementation of the partnership.
Li Guanding , Vice Mayor of Ningbo, highlighted the growing importance of big data analytics in navigating today's unpredictable international environment. "The Maritime Silk Road Index must fully leverage its predictive, guiding, and analytical capabilities to better serve both domestic and global shipping and trade markets," he remarked.
The vice mayor acknowledged that achieving these objectives would require substantial support from the Customs Statistical Analysis Department. He characterized the memorandum signing as a crucial milestone in the development of the Maritime Silk Road Index, signaling a joint commitment to advancing trade indices and delivering more valuable analytical tools for market participants.
This strategic alliance between China's Customs Administration and the Ningbo Shipping Exchange not only promises to foster healthy development of Maritime Silk Road trade but also contributes to global economic stability and prosperity. Both parties have pledged to maintain close communication, deepen cooperation, and work toward mutual benefits while elevating global trade to new heights.
