$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
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
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,
Jiang said the government has established a PPP database,
which includes 25 projects with total investment of 20
billion yuan so far.