$31bn China Mega-Plan-Port-Reform


In a bid to unify its ports and make better use of its assets, the Chinese government of Zhejiang is to set a new company to run five major ports in its Eastern Province, according to Caixin News.

The ports which are to be involved in the new scheme are Ningbo, Zhoushan, Jiaxing, Taizhou and Wenzhou.

Zhejiang's Governor, Li Qiang, said in early 2015 that his government would be pushing ahead with the merger of the firms running several ports, including those in Ningbo and Zhoushan.

The Zhejiang government was reported as saying that after the merger has been completed, it will be investing more than US$31 billion into the Zhoushan islands, including the Port of Ningbo-Zhoushan.

China has also recently announced its decision to set up a new rail route with Kazakhstan that would support trade travelling from Asia to Europe.

Trade from China to North America and Europe is also set to boom in the next five years, which could be dependent on how well China’s stock market recovers.

According to the Telegraph, more than US$110bn was wiped from the value of Britain’s companies in Shanghai.

It is too soon to quantify the effects of the stock market crash on the supply chain, however it is highly likely to dampen productivity.

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