Along the modern Silk Road
In 2013, China launched the Belt and Road Initiative (BRI), with focus on the development of the modern Silk Road and maritime trade routes connecting Asia, Middle East, Europe and Africa.
Spain, located at the intersection of the Silk Road Economic Belt and the 21st-century Maritime Silk Road, takes an active part in the construction of the BRI to promote pragmatic cooperation with China.
The BRI offers numerous opportunities for the Spanish business, and Spain also acts as a gateway for Chinese companies eyeing investments in Latin America and Africa due to its unique, advantageous geographic location.
Under the framework of the BRI, China and Spain have carried out important cooperation in many areas, including economy, trade, culture, and tourism.
The Yiwu-Madrid Railway, one of the first outcomes of the BRI, began operation in 2014, boosting the economic cooperation between China and Spain.
Covering eight borders and stretching some 13,000 kilometers, the railway connects China's Yiwu City, the world's largest wholesale center for small goods, with Spanish capital Madrid, serving as not only a platform for more convenient trade and logistics but a bond to enhance communication between the two countries.
Spain has seen a huge increase in exports to Yiwu with 10.1 million U.S. dollars in 2017 compared to 1.6 million dollars in 2014 thanks to the opening of the rail line.
The Yiwu-Madrid Railway is part of the China-Europe freight rail services, accelerating China's opening up and boosting the economic and trade cooperation with countries along the Belt and Road route.
