18  October  2018

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 Infopetro -> Industry in Focus

$15.5 billion to Boost Zhanjiang's Hub Role


Zhanjiang, a port city in southwestern Guangdong

province, has entered a new stage of development as it

signed strategic cooperation agreements with 14 large

enterprises on Monday.

The agreements, with investment totaling 105 billion yuan

($15.5 billion), cover such areas as transportation,

manufacturing, energy, healthcare, industrial parks and

urban construction.

To provide strong financial support for these projects,

China Development Bank and Agricultural Development Bank

of China signed a loan agreement with the city government

to provide Zhanjiang a line of credit of 130 billion


China Merchants Group signed a cooperative agreement with

the Zhanjiang city government to set up a 10 billion yuan

fund for the integrated development of the city's port,

industrial park and urban construction projects.

As an important shareholder of Zhanjiang Port Group, CMG

aims to establish a more modern port with net assets of

over 10 billion yuan.

CMG said it will adopt the model of "port at the front,

industrial zone in the middle and city at the back" - the

approach it took in nurturing Shekou Port in Shenzhen -

to encourage the overall development of Zhanjiang.

Since 2007, when Zhanjiang Port and CMG began to

cooperate, the city's port economy has been booming. Its

ranking in terms of cargo throughput among all of the

main port cities in China increased to No 11 last year

from No 18 in 2007, according to the local government.

The Guangdong Airport Authority has agreed with the

Zhanjiang city government to build a new airport

industrial zone of about 3.87 square kilometers,

including a new airport, an aviation industrial park and

a bonded zone. The authorities expect the project to

stimulate rapid growth in aviation-related industries.

The investment earmarked for the project totals 4.4

billion yuan.

In the manufacturing sector, China's Gree Electric

Appliances plans to invest 2.2 billion yuan in its

projects in Zhanjiang.

China Resources Holdings has agreed to invest in

Zhanjiang-based projects in such areas as electricity,

cement, gas, supermarkets and several other industries,

with a total investment of 30.8 billion yuan.

The city government signed an agreement with China

National Ofshore Oil for projects related to gas

pipelines and oilfield construction.

Zhanjiang Party chief Zheng Renhao said: "The signing of

these projects will greatly help our goal to become a hub

city on the 21st Century Maritime Silk Road and in the

Beibu Gulf region.

"To accomplish the goal, we have outlined plans for a

number of key projects," he continued.

"In the future, the Zhanjiang government will provide

good services for investors so that we can all share the

fruit of the city's progress," he said.

The city also released 69 public-private-partnership

projects with total investment of nearly 100 billion

yuan. The city government held a meeting to present these

projects on Monday morning, with about 600 executives

from 124 companies participating.

Jiang Jianjun, mayor of Zhanjiang, said at the meeting

that the city is in a vital stage of its development and

the PPP projects will play an important role.

He explained the city is striving to advance its

infrastructure construction, providing huge cooperation

opportunities for the government and social institutions.

The city also has long-term relations with 44 financial

institutions, which can provide stable funding support,

he added.

Jiang said the government has established a PPP database,

which includes 25 projects with total investment of 20

billion yuan so far.

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