International Shipping Center to be Built in Qianhai

International shipping center to be built in QianhaiHong Kong and Shenzhen are planning to build an international shipping center by establishing an international shipping trade center in Qianhai within the next five years. In Shenzhen’s 12th five year program the city will be focusing on creating service platforms for an international trade center.

Shenzhen will be enlarging the port’s capacity, further improving international shipping services, and introducing a shipping management center, as well as a ship brokerage and settlement center. Hong Kong has also expressed their interest in Shenzhen’s plan. By building an international shipping center, Shenzhen will be expanding the shipping route network and will draw more renowned overseas shipping and management firms to invest in businesses in Shenzhen.

In the meantime, the port in western Shenzhen will be part of the Qianhai free trade port area. The port area will offer preferential tax policies to shipping companies and will do a trial run of a yuan loan program. To help increase customs efficiency,  green passages will be created between the port area and Shenzhen checkpoints.

The hope is to turn Qianhai into South China’s Manhattan after Shenzhen and Hong Kong develop it, transforming Qianhai into a regional transportation hub. By 2020 Qianhai will have already created more urban railways, water traffic routes and ports in addition to creating a hub for service industries in the Asia Pacific region.

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