Baoshan district in the suburbs of Shanghai is aiming to be among the world's top three cruise ports by 2020 and the local government has set a goal of facilitating up to 6 million cruise passenger trips while being home to more than 20 new cruise institutions by that year.

To achieve this goal, the district government has decided to collaborate with State-owned China State Shipbuilding Corp (CSSC), Fincantieri SpA, Chinese sovereign wealth fund China Investment Corp and Carnival Corporation & Plc to build a China cruise industry development alliance during the 13th Five-Year Plan period (2016-20). These entities will also establish the Shanghai CSSC International Cruise Industrial Park.

"Having an international passenger port as well as Asia's largest cruise home port, Baoshan has become the most important water gateway in Shanghai," said Wang Hong, the Party secretary of Baoshan district and director general of Shanghai International Cruise Business Institute.

The Wusongkou International Cruise Terminal is also in the midst of expanding its shoreline from the current 774 meters to 1,600 meters, which will enable it to accommodate four large cruise liners at the same time. Launched in 2015, this 800 million yuan ($117 million) project is expected to be completed by the end of the year.

At the end of May, authorities from the city's Baoshan district signed a strategic cooperative letter of intent with CSSC and Italy-based Fincantieri SpA, the world's largest cruise shipbuilding company.

According to the agreement, the three parties will aid the construction of the cruise liner through the development of the Shanghai CSSC International Cruise Industrial Park and the launch of a cruise industry system in Baoshan.