China’s total cargo throughput rose by 10% yoy in 3Q23 thanks to a surge in major commodities import volume; the ramp-up of New Western Land-Sea Corridor (NWLC), leading to ports’ cargo throughput in Guangxi up by 29% yoy; and a low base in 2022 caused by weak demand from Europe and the US. Total container throughput rose by 6% yoy. Fitch Ratings attributes the growth to NWLC, driving up container throughput for ports in Guangxi province; accelerating trade with Regional Comprehensive Economic Partnership (RCEP); and Dalian Port adding five foreign trade routes in 2023. China exports declined further amid weak ... (full story)