Media: Hainan's Yangpu boosts creation of Sino-German industrial zone

 The administration of Hainan's Yangpu International Port, in cooperation with the large German consulting company Rudolf Scharping (RSBK), has accelerated the promotion of the project to create a Sino-German industrial park, reported the Hainan Daily.

 

According to the publication, it is planned to locate logistics, energy and petrochemical companies, enterprises specializing in telecommunication technologies, in the development in the field of artificial intelligence, as well as organizations engaged in commercial activities in the field of health care, in the production of eco-friendly vehicles and new materials.

 

According to the local authorities, one of the key tasks of the project is to form a highly efficient industrial cluster in this part of the province. In order to accelerate the adaptation of investors from Germany to the development program of Hainan's free trade port, RSBK specialists, together with their Chinese counterparts, are working out new opportunities for mutually beneficial projects. At the current stage, according to the newspaper, they have begun to agree on a number of important details regarding the increase in the inflow of foreign capital into Yangpu's economy.

 

According to official statistics, the port's cargo turnover last year increased by 44%, exceeding 1 million standard containers.

 

Yangpu plays a key role in the development of China's transportation and logistics network. In 2020, the GDP of this economic region, which is home to more than 89,000 residents, exceeded 27.9 billion yuan ($ 4.3 billion), an increase of 10.5%. In accordance with the comprehensive plan for the formation of a new integrated sea and land corridor of the Chinese State Committee for Development and Reforms, by 2035 the port will become a key point for the distribution of trade flows from the country's various regions to Southeast Asia and Oceania, Europe and North America. It is expected that by 2025 it will become a major regional transport hub, through which up to 5 million containers will pass annually.