China’s Hubei to set up provincial port group

Wuhan Port and Shipping Development Group, will be renamed as Hubei Provincial Port Group, to integrate state-owned provincial port assets along Yangtze river and Han river.

Provincial authorities will allocate CNY1bn ($156m) financial funds in 2021 and 2022 to support major infrastructure construction and project development for ports integration.

Hubei posted a cargo throughput of 380m tons and a container volume of 2.29m teu last year, an increase of 23.9% and 9.8%, respectively, is a leading port operator in up and middle stretches of Yangtze river.

In recent years, several Chinese provincial port groups had been established, such as Shandong Port Group, Liaoning Port Group and Zhejiang Sea Port Group, for strengthening the ports’ competiveness and improving efficiency.