Shanghai, China’s leading trade and shipping hub, remains in third place in the 2022 Xinhua-Baltic International Shipping Centre Development Index Report (Xinhua-Baltic ISCDI Report), which was unveiled on Monday (11 July).
The 2022 ranking showed Shanghai is positioned after Singapore and London, and is followed by Hong Kong and Dubai.
According to the report, over the past five years, Shanghai has risen from fourth in the rankings in 2018 and 2019, to sit at third in 2020 when it jumped ahead of Hong Kong.
Located at the mouth of the Yangtze River, the city has established itself as an international maritime hub and boasts itself as amongst the busiest ports in the world over the past 20 years.
The Shanghai International Shipping Institute (SISI), an international research body affiliated to Shanghai University, told the Xinhua-Baltic ISCDI Report that the Chinese government has issued many policies to support Shanghai’ s growth as a maritime centre.
In particular it has seen infrastructure investments and business conducive policies put in place since 2011, when the reinvigoration of Shanghai began in earnest. Policies include those related to the Shanghai Pilot Free Trade Zone, which opened in 2013; and foreign investment opportunities.
Shanghai is not just a port and business centre, but also an important location for shipyards and marine technology innovation, said SISI.
“The maritime centre’s large port, good supply chain connections, growing shipping cluster and good service are amongst the key strengths of Shanghai as a maritime centre,” it noted.
The report also highlighted that Shanghai is also looking to use technology to reduce emissions from shipping, including clean energy supplies for ships and clean energy in ports.
These projects link with the July 2021 introduction of China’s national emissions trading system, so far only applicable to power plants, in line with the country’ s plans to cap emissions by 2030 and be climate neutral by 2060.
In 2021, Shanghai also announced it would be co-operating with Los Angeles and a network of shipping companies and cargo owners to create the Green Shipping Corridor Implementation Plan to transition to low, ultra-low and zero-carbon fuelled ships within the decade, as well as reduce supply chain emissions from their port operations.
Note: The full copy of the “2022 Xinhua-Baltic International Shipping Centre Development Index Report” can be found here.
Photo credit: Xinhua-Baltic ISCDI Report
Published: 18 July, 2022
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