The new Shipping Exchange will provide strong support for Guangzhou Building international shipping center.
The Guangzhou Shipping Exchange will be founded this week at the earliest, which will rank Guangzhou the fourth city to operate a comprehensive and specialized shipping exchange. Those which already do so are Shanghai, Qingdao and Chongqing. This can be seen therefore as another landmark event in Guangzhou establishing itself as an international shipping center after it became clear after progressive growth that the cargo handling capacity of Guangzhou Port exceeded 400 million tons at the end of last year.
Last year, as a direct result of this fine performance the Guangzhou Port Authority drafted 'Proposals on Setting up Guangzhou Shipping Exchange' and submitted it to the Guangzhou Municipal Party Committee and Municipal Government. When inspecting Guangzhou Port in late December of last year, Guangzhou Mayor Wan Qingliang stated that Guangzhou would now focus on developing a much more comprehensive shipping trading service.
The establishment of the Guangzhou Shipping Exchange is also an experimental program of the comprehensive reform of national service industry in Guangzhou. In the 'Plan of Guangzhou Implementing the Comprehensive Reform of National Service Industry' published in May, the Guangzhou Municipal Government states that efforts will be made to construct nine core functional areas of the modern service industry. One of the nine core functional areas is the Port Economic Zone, and one of the key projects for that Zone is the Guangzhou Shipping Exchange.
In recent years, as the Nansha Port has developed in a solid all-round manner, the Guangzhou Shipping Industry has registered rapid progress. Last year,louboutin, the cargo handling capacity of Guangzhou Port reached 410 million tons, and the container handling capacity increased by 12 percent year-on-year, making Guangzhou Port the 3rd international port in China with handling capacity of 400 million tons, and thus ranking Guangzhou the 7th in the world in terms of cargo handling capacity.
(Translated by Guangzhou Association of Foreign Affairs Translators)
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