Port groups, financial lessors form Yangtze River alliances

The non-profit Yangtze River Economic Belt Shipping Alliance, which was established in Shanghai on July 20, is made up of nine port operators, while the Yangtze River Economic Belt Financial Leasing Alliance consists of five financial leasing companies.

   China’s Yangtze River now has two new shipping groups and logistics alliances dedicated to business development on the river, which is the longest body of water of its type in Asia, and third-longest in the world.
   One is the Yangtze River Economic Belt Shipping Alliance, a non-profit that was established in Shanghai on July 20. The alliance is made up of nine port operators: Shanghai Group, Ningbo Zhoushan Port Group, Nanjing Port Group, Wuhan Port Group, Chongqing Port Logistics Group, Anhui Anhui Jiang Logistics Group, Jiangxi Jiujiang Port Group, Hunan Chenglingji Hong Kong Group and Sichuan Yibin Port Group.
   The port alliance said it will focus on developing Yangtze River shipping resources, strengthening the integration of regional port and navigation information, reducing the cost of integrated logistics, increasing Yangtze River Economic Zone trade growth, and promoting economic development.
   The other newly-formed group, the Yangtze River Economic Belt Financial Leasing Alliance, consists of five financial leasing companies that have pledged to raise and spend up to $44 billion to support the river’s economic belt.
   Changhang Group, Changjiang Port Logistics, Pan Asia Shipping, Minsheng Shipping and Zhongcheng Shipping are the five members of the leasing alliance.