Ningbo, Zhoushan ports plan integration

Port integration moves have gathered momentum in Zhejiang province with a key facility extending the suspension of trading in its shares in Shanghai on Tuesday, sources said on Wednesday.

The move, seen as a precursor to Zhejiang's renewed focus on developing its maritime economy, will see Ningbo Port Co and the Zhoushan Port, the two largest ports in the province, being integrated under a common umbrella.

Ningbo Port halted trading of its shares in Shanghai on Aug 4, said a report published in Caixin.com, adding that the move is an indication of the large-scale port integration that is happening in the province. Zhejiang plans to integrate all its port-related resources in the province and manage them under a unified company, Zhejiang Ocean Portal Investment Operation Group, according to Caixin.