China plans further expansion at Shanghai port

Shanghai is to further expand facilities at the Yangshan Deep Water Port as part of a plan to enhance the port services industry during the 12th Five-Year Plan, reported China Economic Review.


Phase III-A and Phase III-B of the Yangshan Deep Water Port is also expected to receive official certification during the five-year period after trial operations began at the end of 2008, according to a draft plan released by the port authority, reported Shanghai Daily.


There are also plans to enhance service efficiency for port clearance and management, the newspaper said.


The State Council mapped out guidelines at the end of March 2009 for Shanghai to become a major international financial centre and shipping hub by the year 2020. Under the guidelines, the city has granted business tax exemption for shipping companies registered in the Yangshan Deep Water Port region and other incentive measures to boost insurance and other service sectors related to the shipping industry, Shanghai Daily said.
(Source:http://www.cargonewsasia.com)