SPG is the world's largest port conglomerate in terms of cargo capacity. [Photo provided to chinadaily.com.cn]

The High-quality Trade Development Conference of Shandong Port Group (SPG) kicked off on March 17 in Qingdao. The event was part of SPG's efforts to seize the strategic opportunities presented by the building of a unified national market and move faster to create a first-class comprehensive supply chain service system centering on ports to better serve and integrate into the country's new development pattern.

As a significant node for supply chains, SPG enjoys favorable advantages in carrying out trade of bulk commodities. Since its establishment on Aug 6, 2019, SPG's annual cargo throughput experienced a yearly growth of 100 million metric tons for four years in a row. In 2022, its overall cargo volume exceeded 1.6 billion tons and its container throughput surpassed 37 million TEUs, ranking first and third globally.

Its import volumes of crude oil, iron ore, bauxite, and grain account for one-third, one-fourth, three-fifths, and one-fifth of China's total, respectively. In this context, SPG's position as a fundamental and pivotal facility has become more pronounced, which has paved a solid foundation for accelerating trade development and guaranteeing the stability of supply chains.

SPG has leveraged its strengths in port integration by advancing the interconnected development of its four port groups and 12 business segments. This has generated collective efforts for establishing a comprehensive trade service platform. In addition, a comprehensive whole-chain service system featuring "port + trade + logistics + finance + shipping + overseas" was created through converging factors like supply chains, industrial chains, information chains, and finance chains.

The company has set up the Energy Exchange Center that benefits the Shanghai Cooperation Organization countries, built the Bulk Commodity Trading Center, launched the Gainsense Futures Company, built the consumer goods distribution center in northern China, as well as carried out new businesses, such as the blending of bonded crude oil and bonded oil refueling business for vessels.

With trade serving as a bridge, SPG has established sound cooperation with domestic and overseas logistics suppliers, traders, as well as financial institutions. It has worked together with its partners to build, supplement, extend, and develop supply chains as part of their efforts to bolster greater development.

Going forward, SPG will team with relevant parties to build a trade ecosystem and accelerate the creation of a first-class comprehensive supply chain service system centering on ports to further its development and growth.          

The High-quality Trade Development Conference of SPG kicks off on March 17 in Qingdao. [Photo provided to chinadaily.com.cn]