In April 2009, the State Council issued the Promoting Shanghai’s Accelerated Development of a Modern Service Sector and Advanced Manufacturing Sector to Establish an International Financial Centre and International Shipping Centre Opinions, which articulate the importance to Shanghai and to the national economy of Shanghai establishing an international finance centre and international shipping hub.
World number one
Guided by the Opinions, in May 2009, the Shanghai Municipal People’s Government issued the Thoroughly Implementing the Opinions of the State Council on Promoting Shanghai’s Accelerated Development of a Modern Service Sector and Advanced Manufacturing Sector to Establish an International Financial Centre and International Shipping Centre Opinions. This document sets out in greater detail the policy measures aimed at establishing Shanghai as an international shipping hub. The Ministry of Finance, the State Administration of Taxation and local government authorities in Shanghai, in response, have also issued specific complementary measures.
According to a review carried out at a working meeting on promoting the establishment of Shanghai as an international shipping centre, convened by the Shanghai municipal government, the various tasks involved in the establishment of the Shanghai international shipping hub were comprehensively advanced in 2010. Significant progress was achieved in respect of the development of a collection and distribution system for modern shipping, the development of a modern shipping service system, preparation for the establishment of a comprehensive trial international shipping development area, and the improvement of the complementary support policies for the development of modern shipping proposed by the State Council. In 2009, the container throughput of the port of Shanghai reached 25 million standard containers and its cargo throughput reached 590 million tonnes. In 2010, its container throughput rose to 29.05 million standard containers, making it the world’s largest container port for the first time. Its cargo throughput reached approximately 650 million tonnes, maintaining its world number one ranking for the fourth year in a row.
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Henry Lee is a senior partner, and Jessy Wang is a lawyer, at Dacheng Law Offices
Dacheng Law Offices LLP, Shanghai
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500 Pudong South Road
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