Shandong Provincial People's Government has unveiled an all-round development opinion to support the transformation of Linyi Trade City, already China's largest wholesale cluster, into a world-class trade and logistics hub.

This newly launched initiative targets five fronts: internationalization, digitalization, supply-chain synergy, modern logistics and factor-market support.

Titled as a well-known market and China's logistics city, Linyi Trade City's achievements are formidable. Its 2024 transaction volume hit 660 billion yuan ($92.74 billion) and logistics value topped 1 trillion yuan. Foreign trade import and export volume jumped to 114.6 billion yuan, while TIR truck registrations rank first nationwide and China (Linyi)-Europe freight trains have surpassed 430 departures so far.

This year, Linyi Trade City encouraged local enterprises to expand their global presence, promoting the integrated development of domestic and foreign trade. Approximately 300,000 local traders are being re-skilled for export, supported by 52 overseas expos that achieved a total intended transaction amount of 16.75 billion yuan.

In terms of digitalization, the trade city's digital marketplace, China Market, has currently enrolled over 10,000 vendors and 234,000 stock keeping units, achieving a transaction volume of 1.75 billion yuan.