Tianjin, a major port city in north China, plans to invest 7 billion yuan (US$875 million) to improve its port infrastructure in 2006.
About 4.9 billion yuan (US$613 million) was spent on infrastructure construction in 2005, according to sources with the Tianjin Port Group.
During the 2006-2010 period, 36.7 billion yuan (US$4.59 billion) will be invested on Tianjin port construction.
To meet the demands for the development of the international shipping industry, the use of the funds will be concentrated on the construction of deepwater channels and expansion of the port space to turn the port into an international shipping center for northern China.
(Xinhua News Agency February 14, 2006)
