CMPort to promote ‘Port-Park-City’ model under Belt and Road initiative

China Merchants Port Holdings Company Ltd., (CMPort) on 1 June held its Annual General Meeting (AGM) in Hong Kong with Chairman Fu Gangfeng presiding. 

He was joined by others including Dr. Hu Jianhua, Vice Chairman of the Board, Dr. Bai Jingtao, Managing Director of the Company, Zheng Shaoping, Executive Director and Deputy General Manager of the Company, Lu Shengzhou, Chief Financial Officer of the Company.

Majority of the votes were casted in favour of the five resolutions as proposed by the Board and hence, all of the resolutions were duly passed. The approved resolutions included the final dividend of 59 HK cents per share for the year of 2017 in scrip form with cash option and the re-election of seven directors of the Company etc, were duly passed.

After the meeting, Fu Gangfeng met with the reporters and responded to their queries concerning China-US trade friction, CMPort’s overseas strategy and future investments.

Fu Gangfeng said: “The trade relations between China and the United States plays an important role in the global economic development, but trade is driven by demand from different regions. Therefore, the current China-US trade friction has little impact on the Company’s long-term development. As a world leading enterprise, CMPort has the ability to cope with various challenges. We expect the growth rate of CMPort’s volume in 2018 will outperform the global economic growth rate.”

As for overseas business development, Fu Gangfeng said, “CMPort has been actively promoting the development of ‘Port-Park-City’ model under the ‘Belt and Road’ initiative, in which the Company is able to lead or participate in any potential opportunities to diversify its development. 

With regard to future investments, the Company takes commercial returns as the first priority. 

Under the guidance of China Merchants Group’s strategy, he said CMPort will make better use of the advantages with Hong Kong as its foothold, continuously enhance the Company’s management capabilities and port operating efficiency, to achieve long-term stable returns for shareholders.