Hutchison Port Holdings Trust ('HPH Trust') and Guangxi Beibu Gulf International Port Group Company Limited ('Beibu Gulf Port Group') have announced the signing of a memorandum of cooperation.
This marks a significant step towards strengthening collaboration across ports and logistics sectors while promoting economic and trade exchanges between Guangxi and Hong Kong.
This partnership is expected to expedite the growth of the Guangdong-Hong Kong-Macao Greater Bay Area and the Beibu Gulf economic zone.
The memorandum of cooperation was duly signed in the presence of over 50 guests and government officials, under the witness of Liu Ning, secretary of the Communist Party of China Guangxi Regional Committee, Amy Chan, the Commissioner for Maritime and Port Development of the Transport and Logistics Bureau and Ivor Chow, chief executive officer of Hutchison Port Holdings Trust.
Multimodal transportation partnership
"By fostering stronger economic and trade ties between Guangxi and Hong Kong and capitalising on their respective strengths, the cooperation aims to boost multimodal transportation collaboration," Hutchison Port said in the announcement.
It added that the deal will primarily focus on fortifying cooperation between the two regions, utilising the Beibu Gulf Port as a vital link connecting the northwest region over land and the Guangdong-Hong Kong-Macao Greater Bay Area via sea.
"Its ultimate objective is to establish a route that seamlessly connects Asia with North America, Europe, and other regions," the statement further said, adding that this envisioned sea-rail intermodal channel is referred to as the "Western-Beibu Gulf-Hong Kong(Kwai Tsing)/Yantian-Destination route".
Additionally, by harnessing complementary routes and customs clearance convenience between Hong Kong and Yantian Port in Shenzhen, both parties aim to facilitate transhipment traffic between the Beibu Gulf Port and Hong Kong and expedite the collaboration of the logistics hub "Guangxi-Kwai Tsing-Yantian" based on seamless and highly efficient cooperation among Guangxi, Kwai Tsing and Yantian port zones.
The partnership is expected to bring additional cargo volume to the Hong Kong Port and accelerate import/export cargo movement.
[Source: Hutchison Port]
Hutchison Port noted that, for instance, shipping goods from the northwest to major Asian regions via Hong Kong can now be completed in just 4-7 days.
Currently, Hong Kong has over 170 international weekly container liner services connecting destinations across the globe.
"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," said Chan of the Maritime and Port Development of the Transport and Logistics Bureau.
"We are pleased to witness the signing of the memorandum of cooperation between Hutchison Port Holdings Trust and Beibu Gulf Group, which facilitates multi-modal transportation between Guangxi and Hong Kong and leverages the international connectivity and efficient services of the Hong Kong Port, contributing to our efforts in consolidating Hong Kong's position as an international maritime centre," she added.
Meanwhile, Chow of Hutchison Port noted that 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 transhipment hub," he said.
