Guangzhou: Authorities in the southern Chinese metropolis of Guangzhou are looking to make the city into more of a shipping cluster by getting more finance-related firms to set up in its new free trade zone (FTZ).
The local government is offering incentives to get banks and insurance companies to establish branch offices in the city’s FTZ. The local financial authority will also support the Guangzhou Shipping Exchange to start research on a new shipping financial index.
Guangzhou aims to achieve 550m tons cargo throughput and 20m teu container throughput by 2017. The city is also home to some of China’s most advanced and largest shipbuilders.