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Qingdao greenlighted to be Free Trade Port Zone

Qingdao greenlighted to be Free Trade Port Zone

Shanghai: Qingdao, in the Shandong province, has received approval from the State Council to build the Qianwan Bay Free Trade Port Zone (FTPZ), which will be the 8th free trade port zone in China, writes NewsTrak Daily. The Qianwan Bay FTPZ will be spread across an area of 9.72kms, including a terminal operation zone of 4.8kms, and a logistic and processing zone of 4.92kms.

Wu Jingjian, the deputy governor of Qingdao city, said that the Qianwan Bay FTPZ would greatly promote the construction of Qingdao to a shipping hub in northeast Asian. At present, Qingdao is the second largest foreign trade port in China while the Qianwan bay port is the largest container port in west China.

In 2010, the Qianwan Bay FTPZ will put all of its 19 berths into operation, with a slated throughput capacity of 300m tons each year.  [08/10/08]