DOCSLIB.ORG

Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report (a joint stock limited liability company incorporated in the People’s Republic of China) Stock Code : 3369 2017 ANNUAL REPORT For identification purposes only QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2017 Definitions and Glossary of Technical Terms 2 Corporate Information 5 Chairman’s Statement 7 Financial Highlights 11 Shareholding Structure of the Group 12 Management Discussion and Analysis 13 Corporate Governance Report 25 Biographical Details of Directors, 41 Supervisors and Senior Management Report of the Board of Directors 48 Report of Supervisory Committee 63 CONTENTS Auditors’ Report 67 Consolidated Balance Sheet 72 Consolidated Income Statement 74 Consolidated Statement of Changes in Equity 76 Consolidated Statement of Cash Flows 78 Balance Sheet 80 Income Statement 82 Statement of Changes in Equity 83 Statement of Cash Flows 84 Notes to Financial Statements 86 Additional Materials 1. Schedule of Extraordinary Profit and Loss 200 2. Return on Net Assets and Earning per Share 200 DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS “A Share(s)” the RMB ordinary share(s) issued by the Company in China, which are subscribed for in RMB and listed on the SSE, with a nominal value of RMB1.00 each “AGM” or “Annual General Meeting” the annual general meeting or its adjourned meetings of the Company to be held at 10:00 am on Wednesday, 20 June 2018 at Qinhuangdao Sea View Hotel, 25 Donggang Road, Haigang District, Qinhuangdao, Hebei Province, PRC “Articles of Association” the articles of association of the Company “Audit Committee” the audit committee of the Board “Berth” area for mooring of vessels on the shoreline. A berth means one designated place for a vessel to moor “Board of Directors” or “Board” the board of directors of the Company “Bohai Jin-Ji” Bohai Jin-Ji Port Investment and Development Co., Ltd. * (渤海津冀港口投資發展 有限公司), a company incorporated in the PRC with limited liability. “Cangzhou Bohai Port” Cangzhou Bohai Stevedoring Co., Ltd.* (滄州渤海港務有限公司), a company incorporated in the PRC with limited liability on 31 October 2007, with 96.08% of its equity interest held by the Company as at the date of this report “Cangzhou Mineral Port” Cangzhou Huanghua Port Ore Stevedoring Co., Ltd.* (滄州黃驊港礦石港務有限 公司), a company incorporated in the PRC with limited liability on 10 April 2012, with 98.47% of its equity interest held by the Company as at the date of this report “Caofeidian Coal Port” Tangshan Caofeidian Coal Stevedoring Co., Ltd.* (唐山曹妃甸煤炭港務有限公司), a company incorporated in the PRC with limited liability on 29 October 2009 with 51.00% of its equity interest held by the Company as at the date of this report. “Caofeidian Port” Caofeidian Port Zone in Tangshan Port, Tangshan City, Hebei Province “Company” Qinhuangdao Port Co., Ltd.* (秦皇島港股份有限公司), a joint stock limited liability company incorporated under the laws of the PRC on 31 March 2008 “Corporate Governance Code” the Corporate Governance Code set out in Appendix 14 to the Listing Rules “Director(s)” director(s) of the Company 2 QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2017 DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS “Dry bulk” solid commodity cargo comprised of major dry bulk (coal, metal ore and grain) and other dry bulk commodities such as sugar, cement and fertilizer “Global Offering” the issuance of H Shares of the Company by way of Hong Kong public offering and international offering in 2013 “the Group” he Company and all of its subsidiaries (unless the context otherwise requires) “H Share(s)” overseas listed foreign invested ordinary share(s) in the ordinary share capital of the Company, with a nominal value of RMB1.00 each, which are traded in Hong Kong dollars and listed and dealt in, on the Stock Exchange “harbor” a port of haven where ships may anchor “HK$” Hong Kong dollars, the lawful currency of Hong Kong “Hong Kong” the Hong Kong Special Administrative Region of the PRC “HPG” Hebei Port Group Co., Ltd.* (河北港口集團有限公司), previously known as Qinhuangdao Port Group Co., Ltd.* (秦皇島港務集團有限公司), which holds 54.27% equity interest of the Company “HPG Finance” Hebei Port Group Finance Company Limited (河北港口集團財務有限公司) a company incorporated in the PRC with Limited liability on 10 July 2014, with 40.00% of its equity interest held by the Company as at the date of this report “Huanghua Port” Huanghua Port in Cangzhou City, Hebei Province “Listing Rules” the Rules Governing the Listing of Securities on the Stock Exchange, as amended from time to time “Model Code” Model Code for Securities Transactions by Directors of Listed Issuers set out in Appendix 10 to the Listing Rules “PRC” or “China” the People’s Republic of China which, for the purpose of this report, excludes Hong Kong, Macau Special Administrative Region of the PRC and Taiwan “Prospectus” the prospectus of the Company dated 29 November 2013 in connection with the Global Offering “Qinhuangdao Port” Qinhuangdao Port in Qinhuangdao City, Hebei Province “RMB” or “Renminbi” Renminbi, the lawful currency of the PRC QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2017 3 DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS “SFO” the Securities and Futures Ordinance (Chapter 571 of the laws of Hong Kong), as amended from time to time “Share(s)” A Share(s) and/or H Share(s) (as the case may be) “Shareholder(s)” holder(s) of our Shares “SSE” the Shanghai Stock Exchange “Stock Exchange” The Stock Exchange of Hong Kong Limited “Terminal” a major construction of a harbor which is designated for mooring vessels, loading and unloading cargoes and boarding travelers “TEU” or “container” a box made of aluminum, steel or fiberglass and used to transport by ship, rail or barge. The standardized dimension (i.e one TEU) is twenty feet in length, eight feet and six inches in height and eight feet in width “Throughput” a measure of the volume of cargo handled by a port. Where cargoes are transshipped, each unloading and loading process is measured separately as part of throughput “the Year”or“the Reporting Period” the year ended 31 December 2017 4 QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2017 CORPORATE INFORMATION Official Name of the Company Board Committees 秦皇島港股份有限公司 (1) Audit Committee Ms. ZANG Xiuqing (臧秀清) (Chairwoman) English Name of the Company Mr. MI Xianwei (米獻煒) QINHUANGDAO PORT CO., LTD.* Mr. LI Man Choi (李文才) Legal Representative (2) Remuneration and Appraisal Committee Mr. CAO Ziyu (曹子玉) Mr. HOU Shujun (侯書軍) (Chairman) Board of Directors Mr. YANG Wensheng (楊文勝) Ms. ZANG Xiuqing (臧秀清) (1) Executive Directors Mr. CAO Ziyu (曹子玉) (3) Nomination Committee Mr. YANG Wensheng (楊文勝) Mr. ZHAO Zhen (趙振) (Chairman) Mr. WANG Lubiao (王錄彪) Mr. LI Jianping (李建平) Mr. MA Xiping (馬喜平) Ms. ZANG Xiuqing (臧秀清) (2) Non-executive Directors (4) Strategy Committee Mr. LI Jianping (李建平) Mr. CAO Ziyu (曹子玉) (Chairman) Mr. MI Xianwei (米獻煒) Mr. YANG Wensheng (楊文勝) Mr. MI Xianwei (米獻煒) (3) Independent Non-executive Mr. ZHAO Zhen (趙振) Directors Mr. HOU Shujun (侯書軍) Mr. LI Man Choi (李文才) Mr. ZHAO Zhen (趙振) Supervisory Committee Ms. ZANG Xiuqing (臧秀清) (1) Supervisors Mr. HOU Shujun (侯書軍) Mr. BU Zhouqing (卜周慶) Mr. LIU Simang (劉巳莽) (2) Employee Representative Supervisors Mr. CAO Dong (曹棟) Ms. CHEN Linyan (陳林燕) * For identification purpose only QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2017 5 CORPORATE INFORMATION Company Secretary Principal Place of Business Mr. ZHANG Nan (張楠) 35 Haibin Road Qinhuangdao Hebei Province, the PRC Authorized Representatives Principal Place of Business in Hong Mr. MA Xiping (馬喜平) Mr. ZHANG Nan (張楠) Kong 22nd Floor, World-Wide House Auditors 19 Des Voeux Road Central Central, Hong Kong Ernst & Young Hua Ming LLP Level 16, Ernst & Young Tower Oriental Plaza, No 1 East Chang An Avenue Dongcheng District, Principal Bankers Beijing, the PRC Industrial and Commercial Bank of China Limited (Qinhuangdao Haibin Road Branch) Legal Advisors as to Hong Kong Law Bank of Communications Co., Limited (Cangzhou Branch) Li & Partners China Minsheng Banking Corp., Limited 22nd Floor, World-Wide House (Cangzhou Branch) 19 Des Voeux Road Central Bank of China Limited (Tangshan Branch) Central, Hong Kong Registered Address H Share Registrar in Hong Kong Computershare Hong Kong Investor Services Limited 35 Haibin Road Qinhuangdao Shops 1712-1716 Hebei Province, the PRC 17th Floor, Hopewell Centre Headquarters 183 Queen’s Road East Wanchai, Hong Kong 35 Haibin Road Qinhuangdao Hebei Province, the PRC Company Website www.portqhd.com Stock Code 3369 (H share) 601326 (A share) 6 QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2017 CHAIRMAN’S STATEMENT CHAIRMAN’S STATEMENT Dear Shareholders, On behalf of the Board of Directors, I am pleased to present to you the annual report of the Group for the year ended 31 December 2017. Analysis of the Macroeconomic Condition During the Year, the global economic cycle has been going upward; economic growth has accelerated significantly; commodity prices have gone up; and international trade has risen in volume and price. During the same period, China’s economy has been stable and improved, with annual GDP growth of 6.9% and the economy continuing to operate in a reasonable range. China has made solid progress in the structural reform on the supply side and continuously optimized the economic structure; and the development trend has taken on new changes. However, the international environment is still intricate and complex, and the imbalance and insufficiency of domestic development is relatively prominent. There are still many difficulties and challenges in the economic operation. Performance of Major Business and Dividends During the Year, the Group actively responded to the complicated and volatile market environment and the increasingly fierce competition with neighboring ports, and grasped the favorable opportunity for continuing growth of the national economy. The Group meticulously organized production and controlled cost, achieving a significant year-on-year increase in port throughput and operating performance.
Load more

Recommended publications
  • Competitiveness Analysis of China's Main Coastal Ports
    2019 International Conference on Economic Development and Management Science (EDMS 2019) Competitiveness analysis of China's main coastal ports Yu Zhua, * School of Economics and Management, Nanjing University of Science and Technology, Nanjing 210000, China; [email protected] *Corresponding author Keywords: China coastal ports above a certain size, competitive power analysis, factor analysis, cluster analysis Abstract: As a big trading power, China's main mode of transportation of international trade goods is sea transportation. Ports play an important role in China's economic development. Therefore, improving the competitiveness of coastal ports is an urgent problem facing the society at present. This paper selects 12 relevant indexes to establish a relatively comprehensive evaluation index system, and uses factor analysis and cluster analysis to evaluate and rank the competitiveness of China's 30 major coastal ports. 1. Introduction Port is the gathering point and hub of water and land transportation, the distribution center of import and export of industrial and agricultural products and foreign trade products, and the important node of logistics. With the continuous innovation of transportation mode and the rapid development of science and technology, ports play an increasingly important role in driving the economy, with increasingly rich functions and more important status and role. Meanwhile, the competition among ports is also increasingly fierce. In recent years, with the rapid development of China's economy and the promotion of "the Belt and Road Initiative", China's coastal ports have also been greatly developed. China has more than 18,000 kilometers of coastline, with superior natural conditions. With the introduction of the policy of reformation and opening, the human conditions are also excellent.
    [Show full text]
  • Hong Kong SAR
    China Data Supplement November 2006 J People’s Republic of China J Hong Kong SAR J Macau SAR J Taiwan ISSN 0943-7533 China aktuell Data Supplement – PRC, Hong Kong SAR, Macau SAR, Taiwan 1 Contents The Main National Leadership of the PRC 2 LIU Jen-Kai The Main Provincial Leadership of the PRC 30 LIU Jen-Kai Data on Changes in PRC Main Leadership 37 LIU Jen-Kai PRC Agreements with Foreign Countries 47 LIU Jen-Kai PRC Laws and Regulations 50 LIU Jen-Kai Hong Kong SAR 54 Political, Social and Economic Data LIU Jen-Kai Macau SAR 61 Political, Social and Economic Data LIU Jen-Kai Taiwan 65 Political, Social and Economic Data LIU Jen-Kai ISSN 0943-7533 All information given here is derived from generally accessible sources. Publisher/Distributor: GIGA Institute of Asian Affairs Rothenbaumchaussee 32 20148 Hamburg Germany Phone: +49 (0 40) 42 88 74-0 Fax: +49 (040) 4107945 2 November 2006 The Main National Leadership of the PRC LIU Jen-Kai Abbreviations and Explanatory Notes CCP CC Chinese Communist Party Central Committee CCa Central Committee, alternate member CCm Central Committee, member CCSm Central Committee Secretariat, member PBa Politburo, alternate member PBm Politburo, member Cdr. Commander Chp. Chairperson CPPCC Chinese People’s Political Consultative Conference CYL Communist Youth League Dep. P.C. Deputy Political Commissar Dir. Director exec. executive f female Gen.Man. General Manager Gen.Sec. General Secretary Hon.Chp. Honorary Chairperson H.V.-Chp. Honorary Vice-Chairperson MPC Municipal People’s Congress NPC National People’s Congress PCC Political Consultative Conference PLA People’s Liberation Army Pol.Com.
    [Show full text]
  • Annual Report 年報 2015 Contents
    Annual Report 年報 2015 Contents General Information on the Company 2 Chairman’s Statement 8 Financial Highlights 10 Management Discussion and Analysis 11 Directors’ Report 48 Corporate Governance Report 60 Profiles of Directors, Supervisors and Senior Management 72 Independent Auditor’s Report 76 Consolidated Balance Sheet 77 Consolidated Income Statement 79 Consolidated Cash Flows Statement 80 Consolidated Statement of Changes in Shareholders’ Equity 82 Company Balance Sheet 83 Company Income Statement 85 Company Cash Flow Statement 86 Company Statement of Changes in Shareholders’ Equity 88 Notes to the Financial Statements 89 Supplementary Information to the Financial Statements 228 Financial Highlights for the Past Five Financial Years 230 General Information on the Company 1) Company Profile Dalian Port (PDA) Company Limited (the “Company”) was established in Dalian City, Liaoning Province, the People’s Republic of China (the “PRC”) on 16 November 2005. The Company was successfully listed on the Main Board of the Stock Exchange of Hong Kong Limited with stock code of 2880 and Shanghai Stock Exchange with stock code of 601880 on 28 April 2006 and 6 December 2010, respectively. The Company is the first port company listed in both the stock exchanges of Hong Kong and Shanghai. Located at the entrance of Bohai Bay, with its proximity to major international shipping routes as compared to other ports in Bohai Bay and with deep water and ice-free port conditions, Dalian port is able to operate its terminals throughout the year. As the consolidated operational platform for port and logistics services in Dalian port, the Company and its subsidiaries (collectively, the “Group”) are the biggest comprehensive port operator in the Three Northeastern Provinces of China (collectively, Heilongjiang Province, Jilin Province and Liaoning Province).
    [Show full text]
  • ANNUAL Report CONTENTS QINHUANGDAO PORT CO., LTD
    (a joint stock limited liability company incorporated in the People’s Republic of China) Stock Code : 3369 ANNUAL REPORT CONTENTS QINHUANGDAO PORT CO., LTD. ANNUAL REPORT 2018 Definitions and Glossary of Technical Terms 2 Consolidated Balance Sheet 75 Corporate Information 5 Consolidated Income Statement 77 Chairman’s Statement 7 Consolidated Statement of Changes in Equity 79 Financial Highlights 10 Consolidated Statement of Cash Flows 81 Shareholding Structure of the Group 11 Company Balance Sheet 83 Management Discussion and Analysis 12 Company Income Statement 85 Corporate Governance Report 25 Company Statement of Changes in Equity 86 Biographical Details of Directors, 41 Company Statement of Cash Flows 87 Supervisors and Senior Management Notes to Financial Statements 89 Report of the Board of Directors 48 Additional Materials Report of Supervisory Committee 66 1. Schedule of Extraordinary Profit and Loss 236 Auditors’ Report 70 2. Return on Net Assets and Earning per Share 236 Audited Financial Statements DEFINITIONS AND GLOSSARY OF TECHNICAL TERMS “A Share(s)” the RMB ordinary share(s) issued by the Company in China, which are subscribed for in RMB and listed on the SSE, with a nominal value of RMB1.00 each “AGM” or “Annual General Meeting” the annual general meeting or its adjourned meetings of the Company to be held at 10:00 am on Thursday, 20 June 2019 at Qinhuangdao Sea View Hotel, 25 Donggang Road, Haigang District, Qinhuangdao, Hebei Province, PRC “Articles of Association” the articles of association of the Company “Audit Committee” the audit committee of the Board “Berth” area for mooring of vessels on the shoreline.
    [Show full text]
  • Minexpo 2012 Preview Las Vegas Hosts the Largest Exposition for Mining and Mineral Processing
    JULY 2012 VOL. 117 NO. 7 FEATURE ARTICLES NEWS/4 MINEXPO PREVIEW/30 24 China Ship Congestion—How So Many Capesize Ships Got Locked Out of China’s Ports 30 MINExpo 2012 Preview Las Vegas hosts the largest exposition for mining and mineral processing 48 Engineering the New Wild Boar Prep Plant The design integrates safety and maintenance consideration with simplified circuits 54 Public Relations vs. Public Affairs PREP PLANT DESIGN/48 BUYERS GUIDE/56 Knowing the difference, companies can communicate better 56 Coal Age Buyers Guide 2012 68 An Observation About Exporting Coal to China 71 Fiber Optics Report Pendant Line Conditions COAL IN THE NEWS 4 Senate rejects the Stop UMACT Rule 4 Patriot Coal files for Chapter 11 reorganization to improve the company’s long-term prospects 5 Rhino temporarily idles CAPP production 6 EPA targets Essar Group for CWA violations 8 Hallador seeks permit for Allerton THIS ISSUE 10 Kentucky bans habitual offenders from mining 10 UBB is permanently sealed 12 Kentucky coal operator ordered to reinstate miner to job This month, Coal Age offers readers an inside look at what they will see at MINExpo INTERNATIONAL 2012. More 14 CONSOL Energy idles Fola, extends summer vacation for some longwall miners than 1,800 companies will participate in the world’s largest mining exposition. On the cover, the view from the Joy- 16 Arch Coal responds to market downturn Global stand at MINExpo 2008. (Photo: Lee Buchsbaum) 18 MSHA turns its attention to ribs again 20 Cloud Peak acquires CONSOL Energy’s PRB assets 22 Iron ore miners
    [Show full text]
  • Table of Codes for Each Court of Each Level
    Table of Codes for Each Court of Each Level Corresponding Type Chinese Court Region Court Name Administrative Name Code Code Area Supreme People’s Court 最高人民法院 最高法 Higher People's Court of 北京市高级人民 Beijing 京 110000 1 Beijing Municipality 法院 Municipality No. 1 Intermediate People's 北京市第一中级 京 01 2 Court of Beijing Municipality 人民法院 Shijingshan Shijingshan District People’s 北京市石景山区 京 0107 110107 District of Beijing 1 Court of Beijing Municipality 人民法院 Municipality Haidian District of Haidian District People’s 北京市海淀区人 京 0108 110108 Beijing 1 Court of Beijing Municipality 民法院 Municipality Mentougou Mentougou District People’s 北京市门头沟区 京 0109 110109 District of Beijing 1 Court of Beijing Municipality 人民法院 Municipality Changping Changping District People’s 北京市昌平区人 京 0114 110114 District of Beijing 1 Court of Beijing Municipality 民法院 Municipality Yanqing County People’s 延庆县人民法院 京 0229 110229 Yanqing County 1 Court No. 2 Intermediate People's 北京市第二中级 京 02 2 Court of Beijing Municipality 人民法院 Dongcheng Dongcheng District People’s 北京市东城区人 京 0101 110101 District of Beijing 1 Court of Beijing Municipality 民法院 Municipality Xicheng District Xicheng District People’s 北京市西城区人 京 0102 110102 of Beijing 1 Court of Beijing Municipality 民法院 Municipality Fengtai District of Fengtai District People’s 北京市丰台区人 京 0106 110106 Beijing 1 Court of Beijing Municipality 民法院 Municipality 1 Fangshan District Fangshan District People’s 北京市房山区人 京 0111 110111 of Beijing 1 Court of Beijing Municipality 民法院 Municipality Daxing District of Daxing District People’s 北京市大兴区人 京 0115
    [Show full text]
  • Polity and Governance
    www.gradeup.co www.gradeup.co Polity and Governance J&K govt declares actions under Roshni Act 'null and void Why in the news? • The Jammu and Kashmir government has declared the actions taken under the Jammu and Kashmir State Land (Vesting of Ownership to the Occupants) Act, 2001 or 'Roshni Act', as null and void. Reason behind this move • The Act, which was repealed in 2018 by then lieutenant governor Satya Pal Malik, was implemented with the aim of boosting the farming sector and "generating substantial revenue" for funding power projects. • However, the government stated that the Act had "failed to realise the desired objectives and there were also reports of misuse of some its provisions" due to allegations of corruption and an alleged failure to deliver the benefits it had been envisaged for. What is the Roshni Act? • The land-related law, popularly known as the Roshni Act, was brought into force by the Farooq Adbullah government in 2001. • The law aimed to grant ownership rights of public land to occupants. • Reportedly, 15.85 percent of the occupied land was approved for transfer of ownership rights. • The Act also sought the conferment of proprietary rights of around 20.55 lakh kanals of land (1, 2, 50 hectares) to the occupants. • Additionally, legislators hoped the Act would help generate resources to finance power projects. • Farmers who had been occupying State land were also given ownership rights for agricultural use. • The law initially set 1990 as the cut-off year for encroachment on State land, based on which ownership would be granted.
    [Show full text]
  • Monitoring of the Chinese Furniture Sector
    MONITORING OF THE CHINESE FURNITURE SECTOR March 2000 Union Européenne de l'Ameublement in cooperation with ID Consulting Co-funded by the Asia-Invest Programme Asia-Invest Furniture Project Monitoring of the Chinese Furniture Sector Table of contents Index of Tables Executive Summary Objectives and methodology Chapter 1 Introduction Page 4 1.1 Economic and political outlook 4 1.2 Background 5 Chapter 2 Regulation structure and policy Page 8 2.1 Key government policies 8 2.2 China National Furniture Association - CNFA 9 Chapter 3 The furniture industry Page 10 3.1 Natural resources 10 3.2 Local & foreign manufacturers 11 3.3 Wooden furniture 15 3.4 Metal furniture 16 3.5 Plastic furniture 17 3.6 Other furniture 18 3.7 Geographic location 19 3.7.1 Guangdong province 20 3.7.2 Shanghai 20 3.8 Foreign trade 22 Chapter 4 The furniture market Page 33 4.1 Construction plans 33 4.2 Office furniture 34 4.3 Household furniture 36 4.3.1 Living room furniture 40 4.3.2 Dining room furniture 40 4.3.3 Bedroom furniture 41 4.3.4 Kitchen furniture 41 4.3.4 Children furniture 42 4.4 Contract furniture 42 4.5 Hotel furniture 43 4.6 Marketing of furniture in China 43 4.6.1 Wooden furniture 43 4.6.2 Metal furniture 45 4.7 Design 45 © U.E.A. Asia-Invest Furniture Project Monitoring of the Chinese Furniture Sector Index of tables Table 1-1 Population in Asian countries Table 1-2 China GDP growth Table 1-3 Some economic indicators for China Table 2-1 The key actors of China furniture industry Table 3-1 The legal status of Chinese furniture manufacturers Table
    [Show full text]
  • China's Port Investment
    CHINA’S PORT INVESTMENT: THE FLAG BEHIND THE TRADE JUNE 2019 Introduction Mathieu Duchâtel China’s corporate giant COSCO Shipping Ports Limited has titled its 2018 annual report “Strengthening Global Footprint”. Indeed, China’s investment in overseas ports is one of the most tangible incarnations of the country’s expanding global footprint. Because acquisitions of overseas ports happen simultaneously with a naval build-up of historical proportions and a sudden policy reversal on overseas bases, they raise questions regarding China’s strategic intentions. Should we think of port investment in terms of political control and influence or normal business relations? Does China intend to use military power to “securitize” the maritime trade that has ensured rapid growth and prosperity for the country’s coastal provinces since the launch of economic reforms at the end of the 1970s? The two largest companies that dominate Chinese overseas port acquisitions, COSCO and China Merchants Group, are driven by a logic of profit-making. In 2018, COSCO handled 118.8 million TEU at 36 ports worldwide, the equivalent of the combined contained throughput of Shanghai, Singapore, Shenzhen and Ningbo, the world’s four largest ports. 31.7 % of this total was managed in overseas ports, the equivalent of Singapore’s annual container traffic. The same year, China Merchants Group handled 20.66 million TEU in its overseas terminals, 18.9% of its total capacity. Because the revenues of terminal business fluctuate less than shipping, COSCO and China Merchants Group should be expected to continue their rapid international expansion. In fact, the largest share of Chinese overseas investment in ports has taken the form of minority stakes.
    [Show full text]
  • CHINA VANKE CO., LTD.* 萬科企業股份有限公司 (A Joint Stock Company Incorporated in the People’S Republic of China with Limited Liability) (Stock Code: 2202)
    Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. CHINA VANKE CO., LTD.* 萬科企業股份有限公司 (A joint stock company incorporated in the People’s Republic of China with limited liability) (Stock Code: 2202) 2019 ANNUAL RESULTS ANNOUNCEMENT The board of directors (the “Board”) of China Vanke Co., Ltd.* (the “Company”) is pleased to announce the audited results of the Company and its subsidiaries for the year ended 31 December 2019. This announcement, containing the full text of the 2019 Annual Report of the Company, complies with the relevant requirements of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited in relation to information to accompany preliminary announcement of annual results. Printed version of the Company’s 2019 Annual Report will be delivered to the H-Share Holders of the Company and available for viewing on the websites of The Stock Exchange of Hong Kong Limited (www.hkexnews.hk) and of the Company (www.vanke.com) in April 2020. Both the Chinese and English versions of this results announcement are available on the websites of the Company (www.vanke.com) and The Stock Exchange of Hong Kong Limited (www.hkexnews.hk). In the event of any discrepancies in interpretations between the English version and Chinese version, the Chinese version shall prevail, except for the financial report prepared in accordance with International Financial Reporting Standards, of which the English version shall prevail.
    [Show full text]
  • Best-Performing Cities China 2017 the Nation’S Most Successful Economies
    BEST-PERFORMING CITIES CHINA 2017 THE NATION’S MOST SUCCESSFUL ECONOMIES PERRY WONG, MICHAEL C.Y. LIN, AND JOE LEE TABLE OF CONTENTS ACKNOWLEDGMENTS The authors are grateful to Laura Deal Lacey, executive director of the Milken Institute Asia Center; Belinda Chng, the center’s director for policy and programs; Ann-Marie Eu, the Institute’s associate for communications, and Jeff Mou, the Institute’s associate, for their support in developing an edition of our Best-Performing Cities series focused on China. We thank communication teams for their support in publications, as well as Ross DeVol, the Institute’s chief research officer, and Minoli Ratnatunga, economist at the Institute, for their constructive comments on our research. ABOUT THE MILKEN INSTITUTE A nonprofit, nonpartisan economic think tank, the Milken Institute works to improve lives around the world by advancing innovative economic and policy solutions that create jobs, widen access to capital, and enhance health. We do this through independent, data-driven research, action-oriented meetings, and meaningful policy initiatives. ABOUT THE ASIA CENTER The Milken Institute Asia Center promotes the growth of inclusive and sustainable financial markets in Asia by addressing the region’s defining forces, developing collaborative solutions, and identifying strategic opportunities for the deployment of public, private, and philanthropic capital. Our research analyzes the demographic trends, trade relationships, and capital flows that will define the region’s future. ABOUT THE CENTER FOR JOBS AND HUMAN CAPITAL The Center for Jobs and Human Capital promotes prosperity and sustainable economic growth around the world by increasing the understanding of the dynamics that drive job creation and promote industry expansion.
    [Show full text]
  • Annual Report 2020
    Annual Report 2020 Section 1 Section 2 Section 3 OverviewAnnual of Report Tianjin Port Opportunities China’s Port Development and Challenges Industry and2020 in 2020 Port of Tianjin Section 1 Overview of China’s Port Industry and Port of Tianjin China Throughput and Trade Information Throughput at Major Ports in China China Total GDP value Million Million Tonnes RMB$Bn TEUs Total cargo dummy1 dummy2 Container 16000 300 2016 11830 218 120000 250 2017 12644 237 98652 101599 12000 100000 91928 2018 13300 250200 83204 74640 8000 2019 13951 261150 80000 2020 14549 264100 4000 60000 50 40000 0 0 20152016 201711464 2018 2019 2020 210 20000 Total cargo Container 0 2016 2017 2018 2019 2020 Source: Ministry of Transport of the PRC, National Bureau of Statistics Source: General Administration of Customs, PRC China Export Value China Import Value US$Bn US$Bn 2500 3000 2136 2487 2499 2590 2078 2057 2500 2263 2000 1841 2097 1587 2000 1500 1500 1000 1000 500 500 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Source: General Administration of Customs, PRC Source: General Administration of Customs, PRC 4 Overview of China’s Key Port Zones 2020 Throughput Change vs 2019 Total Cargo Container Total Cargo Container (m tonnes) (m TEU) China’s Key Port Zones Bohai Bay Tianjin 503 18.4 2.2% 6.1% Dalian 334 5.1 -8.8% -41.7% Tangshan* 703 3.1 7.0% 5.8% Qingdao 605 22.0 4.7% 4.7% Yangtze River Delta Ningbo-Zhoushan 1172 28.7 4.7% 4.3% Shanghai 711 43.5 -0.8% 0.4% Bohai Bay Suzhou 554 6.3 6.0% 0.3% Yangtze River Delta Southeast Coastline Pearl River Delta
    [Show full text]