As the Belt and Road Initiative reaches its 10th anniversary the international intermodal railway – the China-Laos Express connecting Chengdu, Chongqing and Vientiane, the capital of Laos – has gone into operation, greatly improving the flow of people and logistics between Mainland China and Association of Southeast Nations (ASEAN) members, and has also led more and more mainland companies to choose to expand their business to Southeast Asia.
The Hong Kong Trade Development Council (HKTDC) introduced Xian headquartered Hitpound International to Triple i Logistics, a comprehensive logistics service provider in Thailand. The two signed a strategic cooperation agreement at the Belt and Road Summit Forum in 2022, planning to join forces and expand in the Southeast Asian market.
International logistics operator Hitpound covers international freight, bonded warehousing, manufacturing enterprise supply chain integration services, supply chain finance and a logistics integrated IT service platform. Its headquarter city Xian is the largest hub city of China Railway Express, close to Zhengzhou, Chengdu, Chongqing and other leading mainland cities. Hitpound also has potential customers in Southeast Asia, such as Thailand and the Philippines.
Hitpound has sought to cooperate with mainland companies to jointly develop the Southeast Asian market. In April last year, the Northwest Representative Office of the Hong Kong Trade Development Council (HKTDC) introduced Hitpound to Triple i Logistics, a comprehensive logistics service provider in Thailand, and the two initiated exchanges and discussed cooperation. Later, Hitpound and Triple i Logistics signed a strategic cooperation agreement at the Belt and Road Summit on September last year, establishing a good strategic partnership.
The Belt and Road Summit, jointly organised by the Hong Kong Special Administrative Region Government and the HKTDC, is an important international business platform for promoting Belt and Road cooperation. The seventh Belt and Road Summit Forum on 31 August and 1 September last year drew more than 19,000 online and offline participants from over 80 countries and regions to discuss Belt and Road opportunities.
Belt and Road Summit participant Hitpound said the forum provided a platform for industries such as trade and logistics, connected project owners, investors and service intermediaries and increased cooperation opportunities between mainland and Southeast Asian enterprises. The group believed the summit should expand its domestic influence so that more domestic companies can “go out" with good products and services through the forum, and bring in quality products from other countries.
After signing the strategic cooperation agreement, Hitpound and Triple i Logistics will cooperatively develop their respective regional advantages and networks, integrating their resources. Hitpound and Triple i Logistics designated each other as exclusive agents in their respective economies and committed to carry out comprehensive freight forwarding and logistics business agency cooperation. Hitpound provides Triple i Logistics with consulting services on China-Laos train transport plans, routes and freight rates and helps Triple i Logistics open up the mainland market. At the same time, Triple i Logistics provided Hitpound with professional advice on customs clearance and delivery in Thailand, as well as service consultation on local bonded warehouse needs.
Hitpound boosts Belt and Road cooperation
As the Belt and Road initiative reaches its 10th anniversary Hitpound believes the initiative prioritises interconnection and the establishment of financing platforms. The initiative gave rise to the Asian Infrastructure Investment Bank (AIIB) and Silk Road Fund, chiming with the international trend of regional economic cooperation and development.
The AIIB and Silk Road Fund boosted interconnection between the mainland and neighbouring countries, providing financial support for Belt and Road countries and regions and accelerated the opening of the mainland’s capital account as well as renminbi internationalisation. Substantial infrastructure investment would promote economic growth and stimulate exports of other countries, including developed ones, and create room for structural reforms for developed countries, creating a win-win situation.