Tianjin: Seaport City Saw Added Value of Port Economy

A man tries out a remote control system at the Tianjin International Shipping Industry Expo 2024 held in Tianjin, July 10, 2024. [Photo/Xinhua]

Tianjin International Shipping Industry Expo 2024 kicked off on Wednesday, aiming to build a platform for international cooperation and exchange in the shipping industry.

During the expo, the Port Economic Development Report of Chinese Seaport Cities 2024 was released by the Transport Planning and Research Institute of the Ministry of Transport.

According to the report, Chinese seaport cities saw the added value of their port economy amount to 6.2 trillion yuan ($869.05 billion) in 2023, which accounted for 13.4 percent of these cities’ total economic output. The added value increased by 192.9 billion yuan over the previous year.

The report provides a comprehensive evaluation of the port economic development of the country’s 59 seaport cities.

In 2023, the port economy accounted for 15 percent, 22 percent and 8 percent of the primary, secondary and tertiary industries in seaport cities, respectively, significantly supporting the primary and secondary industries, the report said.