The 2021 Qingdao Land-sea Linkage Forum opens in the port city of Qingdao on Oct 22. [Photo/WeChat account: Shandong-Port]

The 2021 Qingdao Land-sea Linkage Forum opened on Oct 22 in the city of Qingdao in East China's Shandong province.

It's understood that the organizers want the annual event to become a platform that serves China's new "dual circulation" development paradigm – the strategy that sees local production, distribution and consumption as the main driver of the national economy, with domestic and global trade reinforcing each other.

The event is also seen serving the Belt and Road Initiative or BRI and other national strategies, promoting the connectivity of land and sea, as well as helping to create a higher level of opening-up spurred on by a better business environment and a stronger leading role.

The forum attracted the participation of various participants in related fields, including those from regional governments, key maritime enterprises, ports and shipping companies and financial institutions.  

During the event, the China Economic Information Service, Shandong Port Group or SPG and other organizers jointly drafted and released three industry indices. Of these, the globally oriented international shipping hubs competitiveness index was released in Qingdao for the first time. It's designed to serve as an overarching benchmark for the "soft connectivity" of global shipping rules.

In addition, the Xinhua•SPG bulk commodity index system, the first of its kind in the industry that takes a port as its benchmark, focuses on quality bulk commodities handled by (?) the ports group. On top of that, the RCEP members trade connectivity index is expected to help improve overall regional competitiveness and help create a new regional development pattern under the BRI.

Elsewhere, the Land-Sea Linkage Fund was unveiled. With total assets of 10 billion yuan ($1.5 billion), the fund aims mainly to support and invest in industries related to marine economic development – including comprehensive logistics, intelligent ports and shipping services, smart manufacturing and advanced ports and shipping services.

Furthermore, SPG signed seven strategic cooperation agreements with business partners, including the State Power Investment Corporation and Fujian Xiamen Xiangyu Co Ltd.

It also inked a bulk commodities trading "1+N" strategic agreement accord with seven municipal governments across Shandong, including Jinan and Qingdao cities. On top of that, its subsidiaries – Shandong Port Logistics Group, Overseas Group, Beijing Lugang Co Ltd and Rizhao Port – signed five agreements with their respective business partners.

SPG co-published a proposal, together with a number of counterparts, on the green and sustainable development of ports and shipping companies.

In the wake of the national goals of achieving peaking carbon emissions before 2030 and carbon neutrality before 2060, SPG has reportedly been stepping up its efforts to integrate the concept of green and low-carbon development into every corner of the ports and shipping logistics industry.

The event releases three indices, with the globally oriented international shipping hubs competitiveness index unveiled in Qingdao for the first time. [Photo/WeChat account: Shandong-Port]