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Business / Economy

Nansha navigates path to growth

By Qiu Quanlin (China Daily) Updated: 2015-06-24 09:06

In the first five months of this year, the Nansha port opened seven more Asian routes, linking countries and regions along the ancient maritime trade route.

"Shippers in Southeast Asia and Africa like to use the Nansha port, because they believe that it provides more efficient and cheaper services," said Song, adding that international business generates more than 90 percent of the port's total business. And that segment is growing fast.

For example, cargo shipped from the port to Vietnam increased 108.4 percent from a year earlier in the first four months of this year, according to the port authority.

Many leading shipping companies such as Maersk, COSCO Group and American President Lines have developed business at the Nansha port.

During a recent visit to Los Angles, Guangzhou Mayor Chen Jianhua signed agreements with his counterparts from Auckland and Los Angeles to develop closer shipping ties.

Industry observers said that the Guangzhou Port should not simply target "being big" but should also develop more high-end services such as shipping finance.

"We are lagging behind in terms of such services, compared with the world's leading ports in London, New York and Hong Kong," said Huang Bo, an official at the Guangzhou Port Authority.

Services including shipping finance, logistics and insurance, ship maintenance and supply should be developed along with expansion of the port handling capacity, according to Huang.

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