China and Arctic Ocean

Arctic Council: In 2013, the Arctic Council admitted emerging powers China and India as observers, according to The Japan Times. Shorter shipping routes across the Arctic Ocean will save Chinese companies time and money. China is increasingly active in the polar region, becoming one of the biggest mining investors in Greenland and agreeing a free trade deal with Iceland. For example, the journey from Shanghai to Hamburg via the Arctic route is 2,800 nautical miles shorter than going by the Suez canal. Once this route is commonly used, it will directly change global maritime transport and have a profound influence on international trade, the world economy, capital flow and resource exploitation, ministry spokesman Liu Pengfei was quoted as saying. China Maritime Safety Administration this month released a 356-page guide in Chinese offering detailed route guidance from the northern coast of North America to the northern Pacific, the China Daily said. (news.financializer.com). As reported in the news.