HPH Trust and Beibu Gulf Port Group sign landmark cooperation agreement

24.05.2024

Hutchison Port Holdings Trust (HPH Trust) and Guangxi Beibu Gulf International Port Group Company Limited (Beibu Gulf Port Group) have signed a memorandum of cooperation, marking a significant step towards enhancing collaboration in the ports and logistics sectors, while promoting economic and trade exchanges between Guangxi and Hong Kong.

This pivotal partnership aims to accelerate the growth of the Guangdong-Hong Kong-Macao Greater Bay Area and the Beibu Gulf economic zone.

The memorandum was signed in the presence of over 50 guests and government officials, including Liu Ning, secretary of the Communist Party of China Guangxi Regional Committee, Amy Chan, commissioner for Maritime and Port Development of the Transport and Logistics Bureau, and Ivor Chow, Chief Executive Officer of Hutchison Port Holdings Trust.

“Hong Kong is an important hub port in the region providing excellent port and maritime services. As announced in the Action Plan on Maritime and Port Development in December 2023, we aim to enhance the overall competitiveness of the Hong Kong Port and the Greater Bay Area port cluster,” stated Amy Chan, commissioner for Maritime and Port Development of the Transport and Logistics Bureau.

By leveraging their respective strengths, the cooperation seeks to strengthen economic and trade ties between Guangxi and Hong Kong, with a focus on enhancing multimodal transportation collaboration. The partnership will emphasize fortifying connections between the two regions, using the Beibu Gulf Port as a key link connecting the northwest region over land and the Guangdong-Hong Kong-Macao Greater Bay Area by sea. The ultimate goal is to establish a seamless route connecting Asia with North America, Europe, and other regions, known as the "Western-Beibu Gulf-Hong Kong (Kwai Tsing)/Yantian-Destination route."

Furthermore, by taking advantage of complementary routes and efficient customs clearance between Hong Kong and Yantian Port in Shenzhen, both parties aim to facilitate transshipment traffic between the Beibu Gulf Port and Hong Kong. This will enhance the logistics hub collaboration among Guangxi, Kwai Tsing, and Yantian port zones, ensuring seamless and highly efficient operations.

“HPH Trust is committed to collaborating with leading industry stakeholders to explore development opportunities for its port and logistics-related businesses. We are delighted to cooperate with Beibu Gulf Port Group as we capitalise on the unique strengths of both ports to enhance our overall competitiveness, thereby reinforcing the development of Hong Kong as an international transshipment hub,” commented Ivor Chow, Chief Executive Officer of Hutchison Port Holdings Trust.

The partnership is expected to increase cargo volume at the Hong Kong Port and expedite import/export cargo movement. For example, shipping goods from the northwest to major Asian regions via Hong Kong can now be completed in just 4-7 days. Currently, Hong Kong offers over 170 international weekly container liner services, connecting destinations worldwide.

“This memorandum of cooperation symbolises our commitment to support Guangxi in establishing the ‘One Zone, Two Cities’ model and building it into an important strategic hinterland of the Guangdong-Hong Kong-Macao Greater Bay Area. Dedicated to deepening the cooperation between Guangxi and Hong Kong across the ports and logistics sectors, as well as economic and trade exchanges, the memorandum will catalyse high-quality development towards a maritime economy, making significant contributions to national strategies including the Belt and Road initiative," added a spokesperson of Beibu Gulf Port Group.