The Shanghai Shipping Exchange (SSE) on July 11 officially launched the Belt and Road shipping indices to track freight trade data among countries involved after a two-year trial.

The indices include a Belt and Road trade index, a Belt and Road freight volume index, and a Maritime Silk Road freight index.

The Belt and Road Initiative -- or the Silk Road Economic Belt and the 21st-Century Maritime Silk Road -- was proposed by Chinese leadership in 2013 to build trade and infrastructure links along ancient overland and maritime Silk Road routes, connecting countries in Asia, Europe, Africa, and Oceania.

SSE president Zhang Ye said the Belt and Road will lead China's opening-up efforts and the shipping industry keeps tabs on trade volume and freight rates. The indices will boost market transparency.