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|  | | Shanghai Port and Ningbo Port cooperate |
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¡¡¡¡After years of competition over the hinterland, Shanghai Port and Ningbo Port now have begun their substantive cooperation. Chen Xuyuan, President of Shanghai International Port Group Co. Ltd. (SIPG) recently disclosed that SIPG is discussing with Ningbo Port to establish a joint venture, by which two parties will cooperate on terminal building and investment. SIPG has set its future goal at expanding the domestic and oversea terminal networks.
¡¡¡¡In the Yangtze River Delta ports, Ningbo Port and Shanghai Port have been in competition in terms of functional positioning and hinterland resources. Chen Xuyuan expresses that Shanghai Port and Ningbo Port have set up a high-level directors biannual exchange mechanism, with the aim of establishing strategic cooperative relations in various aspects such as capital, technology and business. The two sides also have decided to set up a port investment joint venture and now details are under discussion. After which, these two major port groups will commence the first substantial cooperation at the capital levels.
¡¡¡¡Also released by Chen Xuyuan, SIPG is planning to formulate the terminal network in coastal areas, so that the shipping terminal network in Tianjin and other coastal areas can be expanded and its ability to control be further strengthened accordingly. |
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