Guangzhou to build itself into three strategic hubs

As of 2016, Guangzhou Baiyun International Airport ranks 18th in the world in terms of air cargo handling capacity. [Photo/ycwb.com] 

Guangzhou, the birthplace of Maritime Silk Road, is transforming from an ancient commerce capital into a very modern one with its construction of international shipping hub, aviation hub and technological innovation hub.

Early in June 2016, Guangzhou signed a cooperation agreement with China Cosco Shipping Corporation and set up the headquarters of the world's largest bulk cargo shipping company Cosco Shipping Bulk in the city. The move was seen to solidify the city's attempt to build itself into three strategic hubs. 

South of downtown Guangzhou lies Guangzhou Port, whose annual cargo handling capacity in 2016 reaches 544 million tons, ranking fourth of all China's coastal ports and sixth in world's ports. Nearly 19 million TEUs (twenty-foot equivalent unit) were handled in 2016 at Guangzhou Port, up 7 percent compared with 2015. It is estimated that by 2020, cargo handling capacity will increase to 600 million tons and 25 million TEUs will be shifted annually.

Just south of the city's downtown area is Guangzhou Baiyun International Airport, one of China's top three aviation hubs whose passenger handling capacity reached nearly 60 million and airmail handling capacity reached 1.64 million tons in 2016.

Currently, Guangzhou has attracted businesspeople from more than 130 countries and regions across the world. Its import and export volume hit 857 billion yuan ($130 billion) and the value of cross-border e-commerce is 14.7 billion yuan.

According to the city's 13th Five Year Plan (2016-20), by 2020, the city will complete construction of an international business center city featuring great influence, strong competitiveness and good reputation. The total retail sales of social consumer goods will reach 1.15 trillion yuan, on par with that of cities such as London and New York.