Foreign investors join port operations
25/5/2004 15:22
Many foreign investors are interested in being involved in the
operations of the Shanghai Yangshan Deep-water Port container dock, according to
the Shanghai Port Bureau at a logistics seminar on Shanghai and Hong Kong
ports.
Shanghai will encourage foreign investors to play an active role in
the operations of the container port, guaranteeing that the operations of the
Yangshan Deep-water Port will not be monopolized, said a spokesman with the
Shanghai Port Bureau. Public bidding, he said, will be used to select domestic
and overseas partners.
Ttop-ranking shipping companies and dock operating
enterprises from home and abroad are eager to join in the construction of the
Shanghai Yangshan Deep-water Port. These companies include leading global
shipping enterprises Maersk Sealand and P&O Nedlloyd and the dock operations
company Hutchison Whampoa Limited.
In keeping with China's commitment to the
World Trade Organization, foreign investors will be allowed to establish
wholly-owned docks in the Yangshan Deep-water Port in the
future.
Wendy Zhang/ Shanghai Daily news
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