Port equipment manufacturer hopes to harbor profits

Shanghai's pilot free trade zone will offer opportunities for companies seeking to tap overseas markets, expand their business, lower capital costs and currency exchange risks, and increase international competitiveness, according to Shanghai Zhenhua Heavy Industry Co, China's biggest port equipment manufacturer.

Having already set up a shipping arm in the FTZ, ZPMC has high expectations for its growth under the plan.

The company - formerly known as Shanghai Zhenhua Port Machinery Co - established a presence at Yangshan Free Trade Port in 2012, and the area was later incorporated into the FTZ.