China Merchants Holdings (International) has pledged RMB 8 billion over the next four years for an upgrade of its port facilities in western Shenzhen.
During the same period the company is planning to spend a total of RMB 14 billion on the nine Chinese ports it holds stakes in.
The Shenzhen municipal government will pay for the first stage of the development, which will involve dredging of a 20.2km channel.