Major new ports group to be formed in Liaoning

Liaoning province in northeastern China will form a new company to run its ports, and State-owned China Merchants Group will purchase a controlling stake - in the latest example of the government's intensified efforts to integrate the nation's ports and increase their efficiency.

According to stock filings lodged by three ports on Tuesday night, the restructuring will center on the province's two biggest ports, Dalian Port and Yingkou Port, and there will be a move to integrate the operations of all the ports.

According to the framework agreements, the establishment of the new company and the wider mixed ownership reform is expected to be completed in the current year and the integration of other port operators would be finished by the end of 2018.