The Ministry of Transport and the Shanghai Municipal People's Government signed a memorandum of understanding on Oct 22 at the opening of the 2024 North Bund Forum. Both parties are committed to improving coordination mechanisms and advancing Shanghai's status as an international shipping center.

The MoU outlines five key areas for near-term collaboration:

1. Building a global shipping hub. This initiative involves optimizing the spatial layout and enhancing the capacity of Shanghai Port's infrastructure. Key efforts include improving the connectivity and efficiency of collection and distribution networks, strengthening maritime safety and emergency response capabilities, and advancing the integrated development of the Yangtze River Delta's world-class port cluster. This initiative aims to support China's broader goal of becoming a strong transportation power.

2. Enhancing Shanghai's shipping services. This initiative focuses on addressing existing weaknesses and bolstering the city's capacity to independently provide high-end shipping services. Key initiatives include establishing a world-class shipping exchange, improving maritime financial and insurance services, innovating and refining the maritime arbitration system, and enhancing ship inspection and international vessel management standards.

3. Promoting the green, smart, and safe development of the shipping industry. This initiative focuses on leveraging technological innovation to accelerate the development of green and smart technologies in the shipping industry. It includes setting standards, optimizing industrial layouts, and advancing the use of renewable energy in port and shipping operations. Efforts will also deepen the digitalization of maritime trade, and accelerate the development of smart ports and intelligent shipping lanes.

4. Enhancing Shanghai's influence as an international shipping center. This initiative aims to strengthen international communication and cooperation, with a focus on increasing the global impact of the North Bund Forum. It includes supporting shipping service organizations in going global, encouraging deeper engagement in international shipping affairs, and broadening in-depth international collaboration.

5. Strengthening collaboration between the Ministry of Transport and the Shanghai Municipal People's Government. They will establish a coordinated mechanism to accelerate the implementation of major reforms, projects, and engineering initiatives for Shanghai's international shipping center development.

Source: jtw.sh.gov.cn