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Relate ports, bulk cargo and trade with clues, providing an “indicator” for industry development

QINGDAO, China, October 27, 2021 / PRNewswire / – At the 2021 Qingdao Land-Sea Belt and Road Summit held on 22 october, the Global International Shipping Center Index – Northeast Asia Report (2021), the Xinhua-Shandong Port Bulk Commodity Index and the RCEP Member States Trade Connectivity Index report (2021) have been released. Experts believe that by accurately describing changes in bulk cargo trade in ports in the form of indices and establishing effective linkages between ports, bulk cargo and trade, the competitiveness of ports will be strengthened, the transformation and modernization of trade will be accelerated, and the ability to stabilize the price and supply of bulk products will be enhanced, so as to provide an “indicator” for the development of the industry.

The Global International Shipping Center Index, compiled by the China Economic Information Service with support from the Baltic Exchange, is another world-class port and shipping rating index launched globally, based on “Xinhua-Baltic International Navigation Center Development Index”. The first phase of the index focused on North East Asia, and 17 ports in China, Japan, South Korea and Russia were selected as sampling ports. According to the full scores, the example ports have been grouped into four rungs, including Qingdao Port, Busan Port and Tianjin Port, due to their network connectivity, level of operation and scale of operation. based. The three ports are absolute regional international shipping centers in North East Asia.

Xinhua-Shandong Port Bulk Commodity Index was developed and established by Shandong Port Group Co., Ltd. in collaboration with China Economic Information Service. It is an important step for the Port to explore the possibility of taking the index as a starting point to improve the capacity for global allocation of resources. To establish the index, three varieties (iron ore, coke and crude oil) with large scale of throughput and great market attention in Shandong Port, as well as two varieties of steel trading (ticket and SPHC material hot rolled) with active trading on the mall bulk commodity have been selected on the basis of the advantageous varieties at Shandong port. The aim is to truly reflect the fluctuating trend of the port bulk cargo market and to provide a benchmark value and an effective benchmark for port business activities. According to planning, the varieties affected by the index will be gradually enriched in the future, and the index will also be extended to cover other coastal ports. With constant efforts to build an index information platform to ‘see Shandong for port bulk cargo ”, it will provide precise positioning and a comprehensive data benchmark for the bulk cargo market.

In the RCEP Member States Trade Connectivity Index (2021) report, a number of bilateral trade network relationships were established in terms of trade, capital flows and key commodities to show the overall state of trade and future development among RCEP member states, and reflect the level of development of trade interoperability among RCEP member states. in 2020, the indices of ChinaJapan, China-ASEAN, Japan-ASEAN, ChinaAustralia and ChinaSouth Korea ranked in the top five, indicating that these countries have maintained close cooperation in trade, capital flows and key commodities. The report also highlights that the main RCEP member states are highly complementary in terms of industrial structure and have close trade and investment relationships in the areas of import and export, with promising prospects for future cooperation.

SOURCE Economic Information Service of China


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