Shenzhen looks to Hong Kong as it maps plan for logistics hub

Date Posted: 2012-01-10

(REUTERS) - Shenzhen has unveiled details of its ambitious 285 billion yuan (S$58 billion) plan to create one of the world's largest logistics centres and pledged to work with Hong Kong to overtake Shanghai as the world's leading port, newspapers reported on Tuesday.

The money would be used to fund 311 new projects and 164 existing ones in Qianhai, a 15 sq km development zone in the Pearl River Delta, the Southern Metropolis Daily reported, adding it aimed to become one of the world's largest logistics centres by 2015. Officials involved in the project were not immediately available to comment.

The zone was unveiled in the city's five-year plan last year although no details on spending were provided.

Mr Qu Jian, deputy director of the Shenzhen-based China Development Institute, said the project would not pose a threat to Hong Kong's leading position in the logistics industry.