Year-over-year growth at China’s top eight ports has slipped to 1.4% in April, 2016, compared to 4.2% growth which was recorded the month prior, according to JOC.com.
He Fan, Chief Economist at Caixin Insight Group, said: “The fluctuations indicate the economy lacks a solid foundation for recovery and is still in the process of bottoming out. The government needs to keep a close watch on the risk of a further economic downturn.”
This follows news that the top 20 ports in Asia and Europe had also seen a slump in berth productivity, which was said to be as a result for reasons other than the new era of mega-ships.
A recent report released by the Organisation for Economic Cooperation and Development stated that regions such as Southeast Asia and China are set for huge growth by 2030.
However, despite this huge growth, it is feared that the planned capacity of the ports will outpace demand, which is set to worsen by 2050.
China has recently announced that it is to implement inspections on containers being exported from its ports.
China’s Port of Qingdao had recently opted into a sister port partnership with the Port of Djibouti in a bid to further strengthen exchanges and cooperation between both ports.
