Shanghai will expand the offshore Yangshan Deep Water Port as part of a plan to enhance the port services industry during the 12th Five-Year Plan, the city's port authority said Tuesday.
Plans for expansion of the Yangshan Deep Water Port under Phase III-A and Phase III-B are expected to receive official certification during the five-year period after the start of operations at the end of 2008, according to a draft plan released by the port authority.
Shanghai, which last year overtook Singapore to become the world's largest container port, may handle throughput volume of 30 million 20-foot equivalent units this year, according to Chen Xuyuan, president of Shanghai International Port.
Shanghai handled 29.05 million TEUs in 2010, an increase of 16.2 percent over the volume of 25 million TEUs it handled in 2009.
Under the draft plan reported by the Shanghai Daily, government agencies and port operators will seek to integrate port resources as well as build up a network that connects inland waterways and ports to allow smooth cargo transportation.
The city will also perform a feasibility study of ways to strengthen cooperation with neighboring ports in the Yangtze River delta region.
Lingang New City, in Shanghai's southeast, where Yangshan Deep Water Port sits, together with the Waigaoqiao free trade zone and the Lujiazui financial hub, are expected to become the major driving forces in Shanghai's trade development over the next 10 to 20 years.
The Shanghai State Council mapped out guidelines at the end of March 2009 for Shanghai to become a major international financial center and shipping hub by the year 2020.
Under the guidelines, the city has granted business tax exemption for shipping companies registered in the Yangshan Deep Water Port region and other incentives to boost insurance and other service sectors related to the shipping industry.