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Linking ports, bulk commodities and trade, indices provide an “indicator” for the development of the industry.

QINGDAO, China, Oct.27, 2021 / Xinhua-AsiaNet / – At the 2021 Qingdao Land-Sea Link Summit held on October 22, the International Maritime Hub Competitiveness Index – Report on the Northeast Asia (2021), Xinhua-SPG Port Commodity Index (XH-SPG PCI) and 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 “International Shipping Hubs Competitiveness Index”, compiled by the China Economic Information Service with support from the Baltic Exchange, is another world-class port and transport rating index launched globally, based on the “ Xinhua-Baltic International Shipping Center Development Index ”. The first phase of the index focused on Northeast Asia, and 17 ports in China, Japan, South Korea and Russia were selected as sample 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 Northeast Asia.

XH-SPG PCI 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 (steel ticket and hot rolled coil) with active bulk trading Commodity trading center was selected according to the advantageous varieties of 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 create an index information platform of “see Shandong for bulk cargo port”, it will provide accurate positioning and 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 China-Japan, China-ASEAN, Japan-ASEAN, China-Australia and China-South Korea indices ranked in the top five, indicating that these countries maintain close cooperation in trade, capital flows and major commodities. The report also highlights that the main RCEP member states are highly complementary in terms of industrial structure and maintain close trade and investment relationships in the areas of import and export, with promising prospects for future cooperation.

Source: Chinese Economic Information Service PWR PWR

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