Shandong Port City-industry Integration Development Group, a subsidiary of Shandong Port Group (SPG), signed a cooperation agreement with Weihai Economic and Technological Development Zone on April 27, showcasing that the two sides have entereda new stage in the integrated development of port, city and industry.
The signing ceremony was held online and a total of 61 domestic and foreign investment projects were signed at the same time.
SPG, the world’s largest port conglomerate in terms of cargo capacity, said that it will help Weihai expand its high-level opening-up.
Over the past few years, SPG has made great efforts to help Shandong expedite the replacement of old growth drivers with new ones, and promote the high-quality development of the province. Efforts have also been made to accelerate the integrated development of port, city and local industries inWeihai. It has also promoted the construction of some key projects in the city, such as the Weihai Port International Container Multimodal Transport Comprehensive Service Center, and Malanwan Health and Sports Town, all of which have empowered the city’s high-quality development.
The new project, with a total investment of 2.5 billion yuan ($374.43 million), is expected to make full use of Weihai’s advantageousgeographical position, whichis adjacent to Japan and South Korea.SPG’s advantages in shipping routes, integrated logistics, and supply chainswill helpbuild a cross-border distribution base to provide a higher standard of living for its residents. The project is expected to be a platform that servesthe cross-border e-commerce industry in Japan and South Korea.
SPG
