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Another Fortune Global 500 company set up in Jiangdong New Area

source: HICN   author : Chen Shumin     2022-04-12 10:57:06

China Energy Group, which appears on the Fortune Global 500 list, recently established a branch in Haikou’s Jiangdong New Area, located in south China’s Hainan province.

The branch, registered as the China Energy Ocean Shipping (Hainan) Ltd., Co. with 100 million RMB (15.71 million USD) in capital, will set up regional headquarters for shipping in the island province. It will focus on bringing in bulk carriers to operate in the domestic and international coal shipping business by taking advantage of the open policies of the Hainan Free Trade Port.

(Photo provided to Hainan Daily)

Located in southern China, at the center of the main international shipping routes from Southeast to Northeast Asia, Hainan has a natural advantage in the development of the shipping industry due to the island’s numerous ports.

With large volumes, low pollution, high safety, and low transport cost, the shipping industry is a critical strategy for both China and the entire region to deeply participate in economic globalization. Shipping also plays an important role in the development of the Hainan Free Trade Port, since more than 98% of the freight volume to and from the island is transported over water.

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