19 August 2019

Port investment seen at 90 bln yuan this year, paper says

Chinese investment in port construction projects is on course to hit 90 billion yuan (US$14.45 billion) this year despite overcapacity and imbalances, Economic Information Daily reported Friday. The utilization rate of container ports may fall below 50 percent over time, forcing the government to rein in construction of new ports, some analysts were quoted as saying. Local governments have used port investment as a means to boost growth in their gross domestic product, the report said.

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