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November 19, 2009

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Home » Business » Transport

Oversight by 1 body to fuel hub vision

THE Shanghai government launched a commission yesterday to oversee the city's two major ports and the Pudong International Airport as well as three free-trade zones as part of its efforts to develop the city into an international shipping hub.

The commission is now drafting coordination plans between Waigaoqiao Port, Yangshan Deep-Water Port and the Pudong International Airport, government officials said yesterday.

"Pudong (New Area) will build itself into a region where shipping companies can enjoy modern shipping and logistics service by 2020," Jiang Liang, the governor of Pudong New Area, said at International Ocean Forum in Shanghai.

The district will work out specific tax exemption plans and other preferential policies for shipping companies registered in the Yangshan Deep-Water Port.

Preferential policies which are only available at Waigaoqiao Port will now be expanded to the others as well.

The government will also map out specific plans to support shipping finance activities and the establishment of insurance companies in the Lujiazui area.

An integrated bonded zone near the Pudong airport is expected to be completed by the end of the first quarter of 2010. More than 440 shipping service companies are now registered in the region.

The State Council, China's Cabinet, unveiled guidelines in March to transform Shanghai into a major international financial and shipping center by 2020. The merger of Lingang New City into the Pudong area will boost the overall development of Shanghai as a global shipping hub.

The Shanghai International Port Group said earlier that October's throughput totaled 2.17 million twenty-foot equivalent units, a drop of 9 percent from a year ago.


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