Nine port groups and five shipping and logistics companies in China have together established Yangtze River Economic Belt Shipping Alliance in Shanghai yesterday to jointly develop shipping businesses on the river.
The nine port operators are Shanghai International Port Group (SIPG), Ningbo-Zhoushan Port Group, Nanjing Port Group, Wuhan Port Group, Chongqing Port Group, Wanjiang Logistics Group (formerly Wuhu Port Group), Jiujiang Port Group, Chenglingji Port Group and Yibin Port Group, and the five shipping and logistics companies are Changjiang Shipping Corporation, SIPG Yangtze Ports Logistics, Shanghai PanAsia Shipping, Mingsheng Shipping and Zhongcheng Shipping.
The members of the alliance will work together to tackle shipping-related issues and integrate shipping resources in the Yangtze River Economic Belt region, and promote river-ocean shipping, intermodal shipping and vessel standardisation on the Yangtze River.
The alliance will also support the central government’s plan to develop a complete intermodal shipping system on the Yangtze River by 2020.
In the meantime, five financial leasing companies Bocomm Leasing, ICBC Leasing, CDB Leasing, Mingsheng Leasing and CMB Leasing have established Yangtze River Economic Belt Financial Leasing Alliance.
The financial leasing alliance has agreed to provide a facility of up to RMB300bn ($44.35bn) in total to support the development of the Yangtze River Economic Belt.