The holding groups of the Chinese ports of Tianjin and Xiamen have signed an agreement to accelerate and encourage innovation in the country’s maritime sector, including in the areas of supply chain collaboration and smart port development.
In a statement, the Tianjin Port Group and the Xiamen Port Holding Group said the ‘Comprehensive Strategic Cooperation Framework Agreement for Construction of World-Class Ports’ will prove crucial to many of China’s major maritime infrastructure projects.
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These include “intelligent green port construction”, “supply chain cooperation” and the construction of China’s New Silk Road, its $1 trillion project to revolutionise the supply chain.
In doing so, the parties hope to help turn Tianjin Port into a “world-class intelligent and green port”, while making Xiamen Port China’s Southeast international shipping centre and the hub port in the core area of maritime silk road.
The ultimate aim, the parties said, is to contribute to China’s economic development and maintain stability of the global industrial supply chain, enhance global resource allocation and strategic innovation capabilities.
At the same time as signing their bilateral agreement, the two groups signed a separate deal with the Zhonggu Shipping Group. This collaboration, titled the “Two Ports One Shipping Strategic Cooperation Framework Agreement”, will promote business cooperation between the ports, such as accelerate in-depth cooperation.
In addition, it will also “establish long-term strategic partnerships, jointly construct the transportation and trade channels between Tianjin and Xiamen”, according to the statement.