Shandong Province in North China announced plans to invest RMB 30 billion to build a new Qingdao Port in the next five years, local media reported.
The to-be-built port is designed to have a same throughput capacity with the existing Qingdao port, which is China's second largest foreign trade port with throughput of 300 million tons.
Last year, 24 ports in Shandong Province recorded a combined throughput of 860 million tons.
Chang Dechuan, president of Qingdao Port (Group) Co Ltd said Qingdao port plans to launch an initial public offering on domestic stock market over the next five years, adding that a large hub port, logistic center and information center in China's northern area will be formed.
The to-be-built port is designed to have a same throughput capacity with the existing Qingdao port, which is China's second largest foreign trade port with throughput of 300 million tons.
Last year, 24 ports in Shandong Province recorded a combined throughput of 860 million tons.
Chang Dechuan, president of Qingdao Port (Group) Co Ltd said Qingdao port plans to launch an initial public offering on domestic stock market over the next five years, adding that a large hub port, logistic center and information center in China's northern area will be formed.