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|  | | Beihai Port Co. Ltd., seeks merger with two nearby ports |
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¡¡¡¡The operation of southwest China¡¯s Beihai Port at Guangxi¡¯s Beibu Gulf, the Beihai Port Company Limited is re-organising its assets and preparing for an initial public offering recently.
¡¡¡¡Industry insiders say the company's largest shareholder, Guangxi Beibu Gulf International Port Group, will likely inject its assets of the region's largest port of Fangcheng and second largest port of Qinzhou into Beihai Port Company before it lists.
¡¡¡¡The Guangxi Beibu Gulf International Port Group was founded to integrate the functions of the three ports of Fangcheng, Beihai and Qinzhou in the region. Beibu Gulf is the nearest gateway for ocean shipping for China's southwest region. Beijing has approved of Qinzhou Port's application to set up Qinzhou Bonded Port Area in June, which will be the first bonded port area in southwest China and will enhance the regional port¡¯s status.
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