Dollars Demise Excellerates
from The BRICS Post In what could be a major boost to exports between the two regions, the first freight train service linking a Chinese province to neighbouring Russia is up and running after a train from Heilongjiang Province set off on its maiden journey of 6,578 km to Biklyan, Russia. The cargo train from northeast China’s to central Russia left on its maiden voyage on Saturday. The train, carrying oil exploration equipment, will complete its journey in ten days. Heilongjiang accounts for about a quarter of China’s total trade with Russia. A major advantage of the rail route is its cost-effectiveness, with the transportation being 75 percent cheaper than air transport, according to Chinese railway official, Li Tie. Northeast China’s Heilongjiang Province is planning to increase investment in Russia by $1 billion by the end of 2015, and $2 billion by 2020. The Chinese province, which borders Russia, plans to boost its trade volume to $26 billion by 2015, and $52 billion by 2020. Chinese Premier Li Keqiang said, in Moscow last year, that Beijing will advance the establishment of a Eurasian high-speed transport corridor linking Beijing and Moscow, adding that the current priority should be the high-speed railway between Moscow and Kazan.