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▷ By linking ports, bulk goods and trade, the indices are a …

29.10.2021 – 00:59

China Economic Information Service

Qingdao, China (ots/PRNewswire)

At the 2021 Land-sea Linkage Qingdao summit on October 22, the International Shipping Hubs Competitiveness Index – Northeast Asia Report (2021), the Xinhua-SPG Port Commodity Index XH-SPG PCI and the Trade Connectivity Index Report of RCEP Member States (2021) published. Experts believe that by accurately depicting changes in port bulk trade in the form of indices and creating an efficient link between ports, bulk and trade, ports will improve competitiveness, accelerate trade conversion and modernization and the ability to stabilize price and supply of bulk goods is strengthened, so that a “guiding star” emerges for the development of the industry.

The “International Shipping Hubs Competitiveness Index”, which was created by the China Economic Information Service with the support of the Baltic Exchange, is another global port and shipping rating index that was introduced on the basis of the “Xinhua-Baltic International Shipping Center Development Index”. The first phase of the index focused on Northeast Asia and selected 17 ports in China, Japan, South Korea and Russia as sample ports. After the comprehensive assessment, the sampled ports were divided into four levels, of which Qingdao Port, Busan Port and Tianjin Port were the first due to their leading network connectivity, level of operation and basic size. The three ports are absolute regional international shipping centers in Northeast Asia.

XH-SPG PCI was developed by Shandong Port Group Co. Ltd. Developed and set up in cooperation with the China Economic Information Service. It is an important step for the Port to explore the possibility of using the index as a starting point in order to improve its ability to allocate resources globally. For the creation of the index, three grades (iron ore, coke and crude oil) with high throughput and high market attention in the port of Shandong and two steel trade grades (steel billets and hot-rolled coils) with active trade in the bulk trading center were selected on the basis of the advantageous grades in the port of Shandong . The aim is to accurately reflect the fluctuation tendencies in the market for bulk goods in the port and to offer a valuable yardstick and an effective reference for port trading activities. It is planned to gradually expand the varieties included in the index in the future and to extend the index to other coastal ports as well. With ongoing efforts to build an index information platform that “sees Shandong as a port for bulk cargo,” it will provide accurate positioning and comprehensive data reference for the bulk market.

In the Trade Connectivity Index Report of RCEP Member States (2021), a number of bilateral trade network relationships with regard to trade exchanges, capital flows and key commodities were created in order to show the overall trade status and future development between the RCEP member states and the level of development of trade interoperability of the RCEP- Member States to reflect. In 2020, the China-Japan, China-ASEAN, Japan-ASEAN, China-Australia and China-South Korea indices were ranked in the top five, suggesting that these countries have close cooperation on trade exchanges, capital flows and major Maintain raw materials. The report also indicates that the main RCEP member states are highly complementary in terms of their industrial structures and maintain close trade and investment relationships in import and export, which offers promising prospects for future cooperation.

Press contact:

Frau Yu
Tel: +86-10-63074558

Original content by: China Economic Information Service, transmitted by news aktuell

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