Busy ports herald robust foreign trade

Active trade: Immigration inspection officers in protective overalls march near a container ship at a port in Qingdao. In September, the monthly container production capacity in China surged from 200,000 TEUs to a record high of 500,000 TEUs. — AP

BEIJING: China’s container shipping sector registered steadfast growth this year amid headwinds from the Covid-19 pandemic and container shortages, indicating the country’s robust foreign trade and economic resilience.

Cargo throughput at China’s ports totalled 12.87 billion tonnes in the first 10 months, up 7.8% year-on-year (y-o-y). During the period, container throughput reached 235 million 20-foot equivalent units (TEUs), expanding by 8.4% from a year earlier.

As domestic ports have been bustling with containers, China’s foreign trade in the first 11 months surged 22% y-o-y to 35.39 trillion yuan (US$5.56 trillion or RM23.40 trillion), customs data showed.

The figure, already surpassing the 32.16-trillion-yuan (RM21.27 trillion) total for all of 2020, marked a 24% increase from the pre-pandemic level in 2019.

Effective epidemic prevention and control measures adopted by the Chinese government contributed significantly to stabilising industrial chains, boosting the overseas shipping orders of Chinese companies.

Praising the successful implementation of China’s epidemic-prevention strategy, chairman of China’s state-owned shipping giant China COSCO Shipping Corp Ltd Wan Min said the company handled around 22.45 million TEUs of containers in the first 10 months, representing y-o-y growth of 5.7%.

“China’s potent epidemic-containment efforts and fast resumption of work and production accelerated the growth of demand for cargo transportation, and brought about hope for global shipping companies,” said Liu Wen, assistant general manager of the Shanghai branch of Singapore-based Pacific International Lines (Pte) Ltd.

Most of the company’s vessels were dispatched to operate in the Chinese market, Liu added.

When the container shortage hampered China’s container shipping industry, government organs and businesses adopted multiple measures to boost supply and ensure the smooth flow of goods.

Under coordinated government actions led by the Ministry of Transport, shipping giant COSCO Shipping transported 13,469 empty containers back to domestic ports in March, quenching the country’s container thirst.

The supply of new containers has also been boosted by container manufacturers accelerating production. In September, the monthly container production capacity in China surged from 200,000 TEUs to a record high of 500,000 TEUs, official data showed.

The constant introduction of favourable policies also propelled China’s foreign trade growth.

The business environment has been optimised with a slew of reform measures including facilitating cross-border trade and promoting trade and investment in pilot free trade zones. — Xinhua