In February, the foreign trade container business in China’s top eight ports remained strong. Foreign trade container throughput increased 65.5 percent and the container throughput for domestic trade increased 43 percent year on year. Even with the impact of the pandemic, the increase of the container business reached 9 percent this year compared with the same period in 2019, according to a report from China Ports & Harbors Association. The growth rate of container throughput at the port of Shenzhen exceeded 100 percent, while in Shanghai it increased by nearly 90 percent.
Shanghai International Port Group said Monday that it handled 43.5 million TEUs of maritime containers in 2020, remaining the world's biggest port by volume for the 11th straight year. Its annual revenue fell 28% to 26.11 billion yuan due to the closure of an iron ore port on the Yangtze River by the local government due to environmental concerns.
The upward trend in cargo demand appears to be continuing, as major state-owned logistics supplier Sinotrans on Tuesday issued a positive profit alert, saying that its first quarter net profit is expected to come in between 805 million yuan and 854 million yuan. That would mark a 250% increase from the same period a year ago and higher than the pre-pandemic first quarter of 2019
The cargo throughput boom for foreign trade came amid the fast extension in China’s exports, which augmented 50.1 percent to hit 3.06 trillion yuan (about USD466.12 billion) in the first two months of 2021.