HAIKOU, September 26. /TASS/. The total number of international ships registered at Yangpu Port in the southern Chinese province of Hainan has reached 66, making the port the first among all free trade ports in the country in this regard, Hainan Ribao reported.
The newspaper obtained this information at a September 16 meeting to discuss maritime vessel registration, inspection, and financial services.
A notable outcome of the meeting was the signing of cooperation agreements and the expansion of the "circle of friends" and professional services.
The Hainan International Ship Registration Administration, the Bank of China, the Hainan branch of the China Pacific Property Insurance Company, and the Hainan branch of the China Classification Society jointly signed the "Agreement on the Establishment of a Coordination Mechanism for Maritime Registration, Ship Inspection, and Shipping Finance." According to this document, the parties will create innovative systems that eliminate barriers between the stages of "inspection-registration-financing-insurance," offer low-interest loan products, and establish a data exchange platform.
Thanks to the dividends of Hainan's free trade port policy, the establishment of an international shipping hub is accelerating, and shipping companies are entering the Hainan market more actively. Currently, about a thousand shipping companies are registered in Hainan and engaged in maritime transport, ship management, seafarer services, shipping finance, and other areas. Together, they form a logistics, port, and shipping cluster with a turnover of hundreds of billions of yuan.