(chinadaily.com.cn)
Updated: 2008-03-06 11:56

Port of Qingdao (Group) Co Ltd will hold its A-shares initial public offering (IPO) this year, board chairman and president Chang Dechuan said at the 2008 NPC & CPPCC Session.

"We have submitted our IPO application to the China Securities Regulatory Commission. We are also planning to introduce overseas strategic investors this year," Chang said.

Port of Qingdao is the largest port in North China and the second largest in the mainland. It has the world's largest dock for iron ores, Asia's largest dock for crude oil, and China's third-largest dock for containers.

The port's cargo throughput totaled over 260 million tons as of December 23, 2007, raking in more than 7 billion yuan (US$984.53 million) in revenue and 1.3 billion yuan in net profit.

Of this, its imported iron ore and crude oil throughput ranked the top worldwide and nationwide respectively.

Port of Qingdao has three port areas: the Old Port Area, Huangdao Oil Port Area and Qianwan New Port, with 15 docks and over 70 berths, operated by about 20 Sino-foreign joint ventures.