Zhejiang to integrate three ports
Zhejiang government has started preliminary works to integrate three ports in the province, Jiaxing Port, Wenzhou Port and Taizhou Port.
Two other major seaports in Zhejiang, Ningbo Port and Zhoushan Port have already completed a merger in 2015.
Zhejiang State-owned Assets Supervision and Administration Commission established a new entity named Zhejiang Port Investment Operation Group in 2015, which will be the operating platform for all the port assets in the province upon completion of the integration.
The group will be the largest port company in China in terms of port throughput, and it plans to list on the stock exchange in the near future.
The government is expected to complete the integration of the three ports in the first half of 2016.
Zhejiang completed overall port cargo throughput of 1.1bn tons in 2015, and Ningbo-Zhoushan Port completed 890m tons in the year, ranked number one in the world.