China’s SSE Launches Belt and Road Shipping Indices
China’s Shanghai Shipping Exchange (SSE) has officially launched the Belt and Road shipping indices to track freight data among involved countries, following the completion of a two-year trial, reports said.
The indices include a Belt and Road trade index, a Belt and Road freight volume index, and a Maritime Silk Road Freight index, MANA correspondent reported cited by Xinhua.
Zhang Ye, president of SSE, said the Belt and Road shipping indices will help the shipping industry keep tabs on trade volume and freight rates, boosting market transparency.
The Belt and Road shipping indices fall under China’s One Belt One Road (OBOR) economic initiative that aims to boost trade and cooperation among involved countries along the ancient Silk Road between Asia and Europe.
The OBOR, proposed in 2013, plans to invest heavily in infrastructure with capital pooled together from different countries, creating a connected network of transportation, telecommunications, and electricity and water supplies that form the foundation for sustainable economic growth.