Increased demand from China for iron ore drove booming exports

Oyundelger 2018-01-04 11:01

Economy

Trade between China and Mongolia continued to boom in 2017, and exports and imports in two major border ports in north China's Inner Mongolia Autonomous Region registered new highs, local authorities.

Trade between China and Mongolia continued to boom in 2017, and exports and imports in two major border ports in north China's Inner Mongolia Autonomous Region registered new highs, local authorities. Erenhot, the biggest railway port between China and Mongolia, saw its railway trade volume with Mongolia up 16 percent year-on-year to 11.2 million tons in 2017. A record 570 train trips were made last year on China-Europe rail routes that passed through Erenhot. Increased demand from China for iron ore drove booming exports from countries along the Belt and Road, through the cross-border rail network. Another port city, Ganqimaodu in Bayan Nuur City, also witnessed fast cross-border trade growth last year. Trade via Ganqimaodu soared by 26.2 percent year-on-year to 17 million tonnes in 2017, mainly driven by increased imports of coal and copper concentrate from Mongolia.