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The Port of Ningbo Merged into Zhejiang Seaport Group

The unveiling ceremony of Zhejiang Seaport Investment and Operation Group Co., Ltd., was held in Zhoushan On the morning of August 28, signifying a new start of the integrated development of ports of Zhejiang. The five big ports in Zhejiang, namely, Ningbo, Zhoushan, Jiangxing, Taizhou and Wenzhou will be operate in a unified manner. 
It is learned that the Zhejiang Seaport Group originates from Zhejiang Marine Development and Investment Group Co., Ltd, which was founded on July 30, 2014. On August 7, 2015, Zhejiang CPC Committee and Zhejiang Provincial Government decided to set up Zhejiang Seaport Group. On August 21, the Zhejiang Marine Development and Investment Group Co., Ltd was renamed as Zhejiang Seaport Group, with its headquarter set in the Zhoushan New Area of Zhejiang and registered capital of 6.4 billion yuan. It is a wholly-owned state enterprise of Zhejiang. 
The decision of founding Zhejiang Seaport Group is a crucial decision made by the Zhejiang Provincial Government, which initiated a new round of development of the marine economy and port-based economy of Zhejiang. It plays a pivotal role in Zhejiang’s better serving the One Belt and One Road Initiative and the Yangtze River Economic Belt and speeding up the construction of a province strong in shipping and marine economy. 
Zhejiang Seaport Group is set to be a financing platform for development of provincial-level marine resources, make best use of the port and coastline resources of Zhejiang, forge a first class port investment and operation group so as to accelerate the integrated and coordinated development of marine and port economy. 
The Zhejiang government released the news that Hu Xumin shall act as the deputy director of the Zhejiang Marine and Port Development Committee. 
In 2014, the aggregate of Zhejiang’s marine economy stood as 600 billion yuan, 10 % bigger as against the year before, higher than the GDP growth rate. To date, Zhejiang has had 210 ten thousand plus tonnage berths, with handling capacity totaling 1.25 billion tons. Among them, Ningbo and Zhoushan realized a cargo throughput of 870 million tons, ranking the first place in the world for five years running. The marine transport capacity now reaches 20 million DWT, about one fourth of China’s total. Last year, Zhejiang ports realized a throughput of 1.08 billion tons, among which, the container throughput stood at 21.36 million TEUs.  

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