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$20 billion a year!China is investing in global ports at an unprecedented rate

Time:2017-08-02  Read:1154

Overseas investment banking statistics found that in the year to June, Chinese companies have announced plans to invest $20.2 billion in nine overseas ports, a doubling of the previous year.China has announced three blue economic channels, the main reason for the surge in port investment.


In the year to June, Chinese companies have announced plans to invest $201 billion in nine overseas ports, according to Grisons Peak, a London investment bank.


Last year, the figure was just $99.7 billion, according to the financial times.The latest figures do not include other items that are still under discussion but have doubled in the same period last year.


These port projects are concentrated near three blue economic corridors, according to Grisons Peak statistics.According to the xinhua news agency last month, the national development and reform commission (NDRC) and the state oceanic administration jointly issued the "One Belt And One Road" construction maritime cooperation vision, which proposed to focus on the construction of three blue economic channels:


1, supported by China's coastal economic belt, connecting China and Indochina economic corridor, the south China sea to the west into the Indian Ocean, cohesion between China and India, Bangladesh and myanmar economic corridor, work together for China, the Indian Ocean, Africa, Mediterranean blue economic channel.

2. South China sea to south into the Pacific Ocean, jointly build China - Oceania - south Pacific blue economic channel.

3. Actively promote the development of the blue economic channel connecting Europe through the arctic ocean.


Henry Tillman, chief executive of Grisons Peak, said China had announced the three blue economic channels in the past year, so it was not surprising that the surge in investment in ports and routes was not surprising.


From specific investment, Chinese companies to invest in port in Malaysia has four: the malacca port of huang jing's $7.2 billion investment, Kuala Linggi port's $2.84 billion investment, Penang port's $1.4 billion investment and $177 million investment in Kuantan port.


In Indonesia, the port of zhoushan in ningbo also plans to invest $590m in the Kalibaru project.


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