China's Fujian province to invest $1.17bn in shipping and port development

South China province Fujian plans to invest RMB85 billion in transportation sector and focus on cross-strait traffic upgrading. RMB8bn ($1.17bn) of the fund will be used for shipping and port development.

Fujian recorded 555m tons coastal cargo throughput and 16.3 m teu container volume in 2018, and its growth rate is higher than the national average figure, according to the statistics released by Fujian Provincial Department of Transport.

Fujian is to make an easier transportation channel between Fujian and Taiwan and develop more direct cross-strait shipping and logistics solutions , said Huang Xiang Tan, director of Fujian Provincial Department of Transport. In 2018, Fujian completed 18.2m tons cargo throughput to Taiwan.

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Fujian will accelerate the construction of modern port cluster locally and support Xiamen to be developed as an international shipping hub; add more shipping routes to Southeast Asia and Middle East, explore routes to Europe, US, Africa and Latin America. It will also encourage top shipping companies to co-operate with oversea ports on shipping and port operation.

The province aims to newly add 4m tons port throughput in 2019.

Posted 07 January 2019

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Katherine Si

China Correspondent

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