Research and Markets has announced the addition of the “China Freight Transport Report Q4 2011” report. In July 2011 China announced an investment programme for navigation projects on the Yangtze River that should see its facilities catch up with the rapid rise in freight traffic on the waterway. Chinese Deputy Minister of Transport Xu Zuyuan announced that more than CNY36bn (US$5.57bn) will be spent over the next five years on dredging and navigation upgrades on the Yangtze.
Xu said that this followed an overall investment of CNY80bn in freight transport infrastructure projects over the past five years. Money has been spent on ports and shipping capacity, but work on the river has not been sufficient thus far.
China-South Korea Route Offers Long-Term Growth Potential Intra-Asia is a region that the shipping industry has identified as the next growth market for box shipping. The route linking Chinese ports to South Korean maritime facilities offers considerable growth potential, with both countries set to enter free-trade agreement (FTA) negotiations.
Trade between China and South Korea increased rapidly between 1990 and 2009, rising from US$669mn to US$156bn. The growth trend is expected to continue as China seeks markets closer to home for its exports. Imports from its neighbours are also set to rise, as the country tries to cater for the demands of its steadily developing middle class.
Source: businesswire, September 26, 2011