Shanghai Port retains its No 1 Status
Aerial view of Shanghai Port
The smooth lifting of a container from an ocean liner docked at Shanghai Port on Sunday marked a historic milestone: The port’s 2024 container throughput surpassed 50 million 20-foot equivalent units (TEUs), making it the first in the world to achieve this record.
It is also expected to secure Shanghai Port’s position as the world’s busiest port for the 15th consecutive year, according to a statement the Shanghai International Port Group released on Sunday.
Since container transport began in 1978, Shanghai Port’s container throughput has accelerated rapidly, surpassing 20 million TEUs in 2006, 30 million in 2011, and 40 million in 2017.
Shanghai has maintained its position among the world’s top three shipping hubs for five consecutive years.
With nearly 350 international routes, Shanghai Port connects over 700 ports across more than 200 countries and regions, holding the global lead in port connectivity for 13 years, the company said.
After years of continuous efforts, Shanghai has established itself as a fully integrated international shipping centre with well-developed functions and a robust system.
Its role as a hub serving the entire country and connecting the world has been further strengthened.
Behind the rapid growth of Shanghai Port is China’s growing foreign trade. This year too despite a slow down, China’s imports and exports have continued to rise, clearly surpassing the global average.
Currently, Asia is proving to be a more dynamic player in the global economic landscape. Shanghai has leveraged its existing advantages, actively advancing its role as an international shipping centre, including the establishment of free trade zones and the implementation of facilitative policies.
China’s foreign goods trade increased by 4.9 percent year-on-year to reach 39.79 trillion yuan ($5.49 trillion) in the first 11 months this year, according to data from the General Administration of Customs.
While China’s foreign trade has faced a complex internal and external environment in recent years, the achievements of Shanghai Port reflect the significant success of domestic macroeconomic policies and the proactive responses of foreign trade enterprises.
In addition to its geographical advantages, Shanghai Port also benefits from an efficient logistics network, a rich talent pool, active port services and technological innovation, as well as strong financial support.
Looking ahead to 2025, global demand remains weak, and factors like geopolitical conflicts, trade protectionism, and the reshaping of global supply chains present challenges for global trade.
However, these negative factors should not be overstated, as there are still many favourable conditions for China’s foreign trade, with its advantages continuing to grow, both experts stated.
The global economy is expected to maintain a recovery trajectory, while China’s foreign trade structure is becoming increasingly diversified, and its trade quality is improving.
While trade protectionism will further drive changes in global trade patterns, China feels that there is still significant potential for trade with regions such as ASEAN, Belt and Road Initiative partner countries, and Latin America.
Additionally, China’s exports, especially in areas such as green technology and high-tech manufacturing, continues to improve, offering substantial growth potential.
