Qingdao to build intl shipping center on par with Shanghai

The eastern coastal city of Qingdao, Shandong province is aiming to become an international shipping center that is on par with Shanghai.

Today, shipping has become an irreplaceable means of transporting goods around the world. It is also a vital element of the Belt and Road Initiative.

As the eastern starting point of the New Eurasian Land Bridge and the hub city of the 21st Century Maritime Silk Road, Qingdao is turning itself into a strategic hub in the network of global trade routes, with huge opportunities and broad prospects brought about by the Qingdao Area of the China (Shandong) Pilot Free Trade Zone and the China-SCO demonstration zone.

Shanghai leads the country in international shipping. The city boasts an extensive shipping network that connects key regions in the world and plays a crucial role in forging global trade and economic ties.

In the 2019 Xinhua-Baltic International Shipping Center Development Index, Shanghai was listed as the fourth-largest shipping center in the world. The Shanghai Port topped the United Nations Conference on Trade and Development's (UNCTAD) ranking of the world's best-connected ports in 2019.

The container throughput of Shanghai Port, which totaled 43.3 million TEUs (twenty-foot equivalent units) last year, has been ranked first in the world for 10 consecutive years.

Qingdao has sent 51 officials to Shanghai to learn from the metropolis' methods and practices in developing the modern service industry, especially in the international shipping sector.

Qingdao will learn Shanghai's innovative approaches in logistics, international trade, international finance and shipping related industries to develop itself into an international shipping center, said local officials.