The state-controlled operator of Ningbo, China’s second largest port and the world’s fourth largest port for cargo handling, is taking initial steps to float on the Chinese stock market, senior executives of the Ningbo Port Group said.
Ningbo's move is a result of increased business, thanks to a higher global demand for manufactured goods and higher domestic demands for components and raw materials. Last year, imports and exports handled by the port were valued at approximately US$100 billion.
Group executives revealed that Ningbo Port earned revenues totaling at least RMB 1.5 billion. With cargo volume showing an upward trend, the port's management is keen to attract the private sector capital to fund further development.
Ningbo's move is a result of increased business, thanks to a higher global demand for manufactured goods and higher domestic demands for components and raw materials. Last year, imports and exports handled by the port were valued at approximately US$100 billion.
Group executives revealed that Ningbo Port earned revenues totaling at least RMB 1.5 billion. With cargo volume showing an upward trend, the port's management is keen to attract the private sector capital to fund further development.