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Marine Department, Hong Kong SAR - HKU Libraries - The ...

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Planned expansion heralds new dawn for<br />

Asia's premier marine gateway<br />

Close proximity to mainland China,<br />

one of the world's largest markets,<br />

has encouraged the development of<br />

<strong>Hong</strong> <strong>Kong</strong> into a leading<br />

international port, and continued<br />

prosperity looks assured as major<br />

expansion plans get underway.<br />

SHIPPING and maritime activities<br />

beat at the heart of <strong>Hong</strong> <strong>Kong</strong>,<br />

accounting for more than 20 percent<br />

of the Special Administrative Region's<br />

gross domestic product (GDP).<br />

<strong>The</strong> not-so-secret reason for the<br />

success of the Port of <strong>Hong</strong> <strong>Kong</strong> is<br />

its natural deepwater harbour, which,<br />

when combined with its geographic<br />

proximity to the People's Republic of<br />

China, has allowed <strong>Hong</strong> <strong>Kong</strong> to<br />

blossom into a major international<br />

trade centre and gateway to Asia.<br />

<strong>Hong</strong> <strong>Kong</strong> has held the<br />

momentous title of 'world's<br />

largest container port' for the last<br />

six years, with 14.5 million TEUs<br />

being handled at the port in the<br />

calendar year 1997.<br />

This single achievement, however,<br />

should not overshadow the fact that<br />

it is also one of the world's leading<br />

maritime centres.<br />

Practically any service that the<br />

international maritime community<br />

could possibly require can be<br />

found in the <strong>Hong</strong> <strong>Kong</strong> Special<br />

Administrative Region (HK<strong>SAR</strong>),<br />

including: ship management, ship<br />

repair, finance, legal services,<br />

and much more.<br />

<strong>The</strong> reunification of <strong>Hong</strong> <strong>Kong</strong><br />

with China from 1 July 1997 will see<br />

<strong>Hong</strong> <strong>Kong</strong> continuing to grow as the<br />

major port servicing the needs of<br />

Southern China's burgeoning<br />

Guangdong Province — cargoes to<br />

and from which accounted for 69<br />

percent of <strong>Hong</strong> <strong>Kong</strong>'s total<br />

container traffic in 1996.<br />

Backing up <strong>Hong</strong> <strong>Kong</strong>'s bright<br />

future, the latest official outlook for<br />

the port indicates that container traffic<br />

will grow at an average rate of six<br />

percent a year over the next decade,<br />

to reach 24 million TEUs in 2006.<br />

Beyond this period, the estimates<br />

are for container volumes to grow at

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