Aerial express boosts Chilean fresh produce exports to China

China and Chile have cultivated a remarkable trade partnership despite being separated by thousands of miles, evident in the rapid delivery of Chilean cherries to Chinese markets through aerial express.

A cargo plane celebrating the 10th anniversary of the China-Chile Flight Express departed from Santiago, Chile, carrying 76 tons of fresh Chilean cherries bound for China, and arrived at Shanghai Pudong Airport on Wednesday. Thanks to advanced logistics, the cherries will be quickly distributed to major cities across China, allowing consumers to enjoy the fruit within two days of being harvested.

"Chilean cherries are of high quality and are ripe from November through China's Spring Festival, making them popular among Chinese consumers. This year, we've increased our import volumes, and with China's fast and well-connected logistics, more Chinese customers can enjoy these delicious fruits," said Wang Jianmin, general manager of China Eastern Airlines Logistics.

"We have a connection by airplane from Chile to China. We expect that this year, the cherry production, for example, is going to grow around six percent. So we expect that a big part of that production is coming to China. So we believe that every year, we are going to have a bigger amount of Chilean fresh products in the Chinese market," said Rene Mauricio Hurtado Navia, Chilean ambassador to China during a ceremony to celebrate the 10th anniversary of the China-Chile Flight Express.

China has imported a wider variety of Chilean agricultural products, starting with cherries and expanding to salmon, blueberries, and plums.

"13 percent of what we are exporting from Chile to China is agricultural products. There is no possibility of Chilean progress without having very important cooperation with China in every aspect of our world, especially in the area of trade, in the area of science, in the area of technology. Without the cooperation with China, there is no progress for my country. So we feel very close to China in every aspect and we will continue working with China in everything we deem necessary, especially in the area of free trade, in the area of multilateralism and the area of cooperation in all aspects. So for Chile, China is fundamental for its development," said the ambassador.

Thanks to the aerial express, high-quality Chilean agricultural products have become sought-after delicacies on Chinese dinner tables, symbolizing the strong bilateral cooperation between the two countries.

Aerial express boosts Chilean fresh produce exports to China

The European Central Bank (ECB) said on Wednesday in a report that financial stability vulnerabilities remain elevated in the euro area.

According to the November edition of its Financial Stability Review, the ECB considers the euro area's financial stability to be vulnerable in a "volatile environment".

"The outlook for financial stability is clouded by heightened macro-financial and geopolitical uncertainty together with rising trade policy uncertainty," ECB Vice-President Luis de Guindos said.

The ECB said that it has seen elevated vulnerabilities in a wide range of areas, although the financial sector in the euro area has withstood volatilities and proven to be resilient so far.

The equity and corporate credit markets, and equity markets may be exposed to volatility due to underlying vulnerabilities and non-bank financial institutions could amplify market stress, the central bank warned.

It also pointed out the possibility of recurring market concerns about sovereign debt sustainability in some eurozone countries where fiscal fundamentals remain weak.

Small and medium-sized companies and lower-income households could face strains if economic growth slows at a faster pace than expected, according to the report.

To ensure European banks' ability to absorb further asset quality deterioration, the ECB called on authorities in the euro area to keep their guard up by maintaining existing capital buffer requirements and ensuring sound lending standards.

Eurozone financial stability remains strained: ECB