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China Merchants slows port expansion plans

China Merchants slows port expansion plans

Hong Kong: Port operator China Merchants Holdings (International) plans to slow the development of terminals and may adjust capital expenditure amid China's declining export market, reported local media.

"Exports from the Pearl River Delta are expected to face great pressure in the second half of next year," said chairman Fu Yuning.

He also said container throughput via ports in Hong Kong and Shenzhen could moderate next year. "It's possible that throughput will have slight growth next year or may be flat," he said.

China Merchants is developing terminal projects in Vietnam but may change investment amounts in "certain" regions, Fu added. [10/12/08]