Jiangsu Port Group established today, two listed port companies consolidated

Jiangsu Port Group will be officially established on May 22 by merging Nanjing Port Co., Ltd. and Jiangsu Lianyungang Port Co., Ltd. The actual controller will be the State-owned Assets Supervision and Administration Commission (SASAC) of Jiangsu Provincial Government.

Lianyungang, Nanjing, Zhenjiang, Suzhou and Nantong will be developed as key ports while Yangzhou, Wuxi (Jiangyin), Taizhou, Changzhou and Yancheng will be developed into regional key ports. They handled over 100 million tones, making Jiangsu the province with most ports with cargo handling capacities of over 100 million tonnes.

Liaoning, Hebei, Zhejiang, Guangxi and Hainan provinces have already announced the establishment of their own port groups. It is noteworthy that Jiangsu is covered by the Belt and Road initiatives, the Yangtze River Economic Belt and other national strategies.

(XFA Finance)