The Shandong Port Group signed a key agreement on Feb 25 with the Shanghai Lingang Economic Development (Group) Co Ltd, or Lingang Group – the company which develops industrial parks and supports services and industrial investment in the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone.

Executives from the Lingang Group and Shandong Port Group sign the agreement. [Photo/WeChat account: shlgguanweihui]

The aim of the accord is to forge a robust, long-term partnership centered on sharing innovative ideas and developing a comprehensive service system for Shandong's port supply chain. 
It also seeks to boost the development of the Lin-gang Special Area in Shanghai and to facilitate talent exchanges to deepen cooperation.
Shandong Port is located at the crossroads of the Belt and Road initiative and serves as a key entry point for the giant RCEP trade agreement, connecting China with Japan, South Korea and ASEAN countries.
The port is also said to be the most cost-effective and convenient access point to the sea along the Yellow River Basin, playing a vital role in national strategy and economic development.
For its part, the Lingang Group serves as a major construction body of the Lin-gang Special Area and as a new force in the development of key areas of Shanghai.
The partnership is said to mark an important step towards leveraging the strengths of both sides to drive economic growth and development in the region, contributing to the advancement of the national strategy.