China Approves Plan for Port Development
China's dynamic economy and explosive growth of trade have sparked off a wave of port development and expansion in recent years, involving tens of billions of yuan in investment. Shanghai, Qingdao, Shenzhen and other Chinese ports are now among the busiest ports in the world. On the shipbuilding industry, the meeting pointed out this is an industry where China has a comparative advantage in international competition and so it must be strengthened over the next ten years. The meeting called for more efforts to encourage technical innovations in the industry, to pursue greater market share through international cooperation and to strengthen the development of human resources.
China is now the world's third largest shipbuilder after Japan and the Republic of Korea, holding about a 14 percent share of the global market. Source: Xinhua