http://www.bloomberg.com/news/2011-...rld-s-busiest-port-as-trade-volumes-jump.html
Shanghai Surpasses Singapore as World's Busiest Port as Trade Volumes Jump
Shanghai’s container traffic surpassed Singapore’s last year, making the wealthiest city of China the world’s busiest port as the economy churns out more goods for export and draws in greater trade flows.
Traffic in 2010 rose to 29.05 million, 20-foot equivalent units, or TEUs, the Shanghai municipal government said in a press release on its website. That’s about 500,000 TEUs more than Singapore, the Jan. 5 release said. Shanghai’s cargo volume was about 650 million metric tons last year, it said.
The traffic increase got a boost from the growing domestic economy, recovery in Europe and the U.S. and the Shanghai 2010 World Expo, the statement said. China’s central government said in 2009 that it aimed to make Shanghai the world’s financial and shipping center by 2020.
The Shanghai government will press on with a trial of export-tax refunds and may expand the exercise, while improving infrastructure, including the building of a tunnel, to help improve the port’s road traffic, the statement said.
Shanghai will develop shipping-price derivatives and study an index of the city’s marine transport, the statement said. The city will also lobby the central government to let luxury cruise agencies register in Shanghai, it said.
Shanghai Surpasses Singapore as World's Busiest Port as Trade Volumes Jump
Shanghai’s container traffic surpassed Singapore’s last year, making the wealthiest city of China the world’s busiest port as the economy churns out more goods for export and draws in greater trade flows.
Traffic in 2010 rose to 29.05 million, 20-foot equivalent units, or TEUs, the Shanghai municipal government said in a press release on its website. That’s about 500,000 TEUs more than Singapore, the Jan. 5 release said. Shanghai’s cargo volume was about 650 million metric tons last year, it said.
The traffic increase got a boost from the growing domestic economy, recovery in Europe and the U.S. and the Shanghai 2010 World Expo, the statement said. China’s central government said in 2009 that it aimed to make Shanghai the world’s financial and shipping center by 2020.
The Shanghai government will press on with a trial of export-tax refunds and may expand the exercise, while improving infrastructure, including the building of a tunnel, to help improve the port’s road traffic, the statement said.
Shanghai will develop shipping-price derivatives and study an index of the city’s marine transport, the statement said. The city will also lobby the central government to let luxury cruise agencies register in Shanghai, it said.
