Shenzhen is preparing a bid to Beijing to establish Yantian port area as a bonded port area, which is similar to the free trade port, according to Xie Jianmin, deputy director of Shenzhen Administrative Bureau of Free Trade Zones.This is seen as a challenge to Hong Kong container throughput, which stands at 22.6 million TEU against Shenzhen's 16.2 million TEU today. According to the Shenzhen government plan, the city's box throughput will reach 26 million TEU by 2010. Shenzhen's Yantian port area is expected to become the fourth bonded port area in China after Shanghai's Yangshan, Tianjin's Dongjiang and Dalian's Dayaowan, reported Xinhua News Agency. An official of the Shenzhen Sea Transport Association said, if Shenzhen's application gets approval from the central government, the bonded port area would be able to expand its business coverage.
This will allow it to move beyond its present realm of conventional services to high value-added services, such as bonded warehousing, product packaging, international transhipping, and international sourcing. After Yantian bonded port area is established, Shenzhen will win 15 per cent cargo sources from Hong Kong, about 4.5 million TEU, say port authorities. And with the extra cargo volume brought in by the bonded port area, Shenzhen's throughput is expected to exceed 30 million TEU, surpassing Hong Kong's box volume, said Xinhua.
This will allow it to move beyond its present realm of conventional services to high value-added services, such as bonded warehousing, product packaging, international transhipping, and international sourcing. After Yantian bonded port area is established, Shenzhen will win 15 per cent cargo sources from Hong Kong, about 4.5 million TEU, say port authorities. And with the extra cargo volume brought in by the bonded port area, Shenzhen's throughput is expected to exceed 30 million TEU, surpassing Hong Kong's box volume, said Xinhua.