The Port of Guangzhou, the world's fifth largest port, unveiled a three-year action plan (2024-26) to shore up the construction of a global shipping hub, according to media reports on Tuesday.
The plan, issued on Monday, called for the port to achieve throughput of 700 million tons and a container turnover of 27 million standard containers by 2026.
The port will also handle 800,000 standard containers under the sea-rail multimodal transportation, achieve a vehicle turnover of 1.6 million units and realize a total investment of 15 billion yuan ($2.1 billion) in port and fixed-asset investment by 2026, according to the plan.
The move is aimed at fostering a port-centered economic zone, nurturing new quality productive forces, further consolidating the port's status as a global shipping hub and a new high ground for deepening reforms and opening-up in the Guangdong-Hong Kong-Macao Greater Bay Area.
The new action plan is the fourth of its kind since such plans were introduced in 2015. As of the end of 2023, the Port of Guangzhou has seen its throughput increase to 675 million tons and container turnover to 25.41 million units. From 2021 to 2023, the port added a total of 42 new ocean shipping lines to bring the total number of container shipping lines to 268.
The introduction of new growth drivers such as auto vehicle transportation and sea-rail multimodal transport has carved out new areas of growth engines during recent years.
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