The port group is jointly set up by Shandong Hi-Speed Group, Qilu Transportation Development Group, Shandong Yankuang Group and Shandong Energy Group.
Shandong Provincial Port Group is a state-owned enterprise approved by Shandong provincial government, which will focus on local port development, investment, construction, operation and safety management.
Huo Gaoyuan, chairman of Shandong Provincial Port Group, said the new group will be able to optimise local port resources and reduce horizontal competitions.
Shandong currently has seven major municipal ports, including Binzhou port, Dongying port, Weifang port, Yantai port, Weihai port, Qingdao port, and Rizhao port.
In March 2018, Shandong established Bohai Bay Port Group for the consolidation of Dongying port, Weifang port and Binzhou port. In July 2019, Qingdao Port Group merged with Weihai Port Group.