China brings major ports together
China is planning to integrate five major ports, Ningbo Port, Zhoushan Port, Jiaxing Port, Taizhou Port and Wenzhou Port, under one umbrella group to optimise port assets in the region, according to local media.
The Zhejiang government has created a new entity, Zhejiang Port Investment Operation Group, appointing Mao Jianhong, former president of Zhejiang Construction Investment Group, as the president.
The first step is expected to be the integration of Ningbo (pictured) and Zhoushan ports. When all the ports are integrated under ZPIO, it will be the largest port company in China in terms of port throughput.
Stock trading in Ningbo port was suspended in August pending the deal, which was still said to be waiting for approvals from authorities at the time of going to press.
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