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Shanghai To Become International Shipping Hub

by Mary Swire, Tax-News.com, Hong Kong

31 March 2009


China's State Council has given the go-ahead to a new plan which will turn Shanghai into an international shipping hub by 2020.

According to the Council, work is set to commence which will see China's shipping sector undergo a radical modernization with the integration of transport links between neighboring ports, updates to the lay-out of shipping services and an increase in the capital available for developments within the sector.

The work will span the next 11 years.

The intention is to introduce a carefully constructed, multi-functional financial market system which will significantly expand upon Shanghai's existing financial industry and enable it to cater for ship financing and leasing, and marine insurance.


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