It is reported that Hong Kong listed shipping company Sinotrans Limited has acquired 20% stake in the Port of Jiangyin based in Jiangyin City in the eastern province of Jiangsu for approximately CNY 70 million.

The port plays an important role in the economic zone of nearby cities like Suzhou, Wuxi and Changzhou in Jiangsu. Its new port area saw an annual cargo throughput of 65,000 TEUs in 2006. In February 2007, the port started operating its first international shipping route from Jiangyin to Pusan, a port city in South Korea, which is expected to save the time and cost for freight between the two cities by two days and CNY 1,000 per TEU.

Besides, the port is offering transport service on more than 20 domestic routes to cities such as Shanghai in Eastern China, Guangzhou and Xiamen in Southern China, Quanzhou in southeastern China.

The new tie up is deemed to enlarge Sinotrans' market share in the mainland, especially in the Yangtze River Delta, one of the mainland's three economically fastest growing regions.

Mr Zhang Jianwei chairman of Sinotrans said that “Sinotrans will work hand in glove with other partners to improve Jiangyin Port. It is an important part of Sinotrans' Yangtze River strategy. For the moment, the company is still considering actively participating in the development of other ports along the river."