In order to establish the co-ordinated development of the Beijing-Tianjin-Hebei region, the Tianjin Municipality and Hebei Province have set up a port corporation alliance to optimise distribution and integrate sea transport resources.
Li Zengjun, chairman of the Bohai Sea Tianjin-Hebei Port Investment and Development Co said that with a registered capital of US$325.4 million, it will be engaged in investment and development of ports in Tianjin and Hebei on the Bohai Sea.
Eight of the world’s largest ports for cargo transport volume are located on the Bohai Sea, with a total cargo transport volume of three billion tonnes last year.
Li said: “The new corporation has ended the lose-lose competition between the two port groups, and will seek coordinated development for the Bohai Sea area.”
The Bohai Sea is part of the Yellow Sea on the coast of Northeast and North China.