The Beijing administration is to inject around US$13 billion into Tianjin port facilities in the next five years as part of its ambition to turn the northern Chinese port into an international shipping hub not only for Northeast Asia but serving Central and West Asia as well.

The Binhai New Area of Tianjin is working on deepening water channels to accommodate vessels of 300,000-tonnage, building exclusive mineral ore wharves and crude oil berths for such vessels as well as expanding container berths, said Yang Zhenjiang, director of the development and reform commission of Binhai New Area. The commission will also look into building up auxiliary services, such as ship financing.