Hong Kong and Shenzhen are planning to build an international shipping centre by establishing an international shipping trade centre in the Qianhai area of Shenzhen within the next five years. In Shenzhen's 12th five-year program the city will be focusing on creating service platforms for an international trade centre, reports Xinhua.

Shenzhen will enlarge the port's capacity, further improving international shipping services, and introduce a shipping management centre, as well as a ship brokerage and settlement centre. Hong Kong has also expressed their interest in Shenzhen's plan. By building an international shipping centre, Shenzhen will expand the shipping route network and draw more renowned overseas shipping and management firms to invest in business in Shenzhen.

In the meantime, the port in western Shenzhen will be part of the Qianhai free trade port area. The port area will offer preferential tax policies to shipping companies and will do a trial run of a yuan loan programme. To help increase customs efficiency, green passages will be created between the port area and Shenzhen checkpoints.

The hope is to turn Qianhai into South China's Manhattan after Shenzhen and Hong Kong develop it, transforming Qianhai into a regional transportation hub. By 2020 Qianhai will have already created more urban railways, water traffic routes and ports in addition to creating a hub for service industries in the Asia Pacific region.