The splitting up of Shanghai Port Authority into two bodies will enable foreign operators to establish solely-owned companies operating ports or docks in Shanghai, said South China Morning Post. Overseas investors are currently limited to joint ventures.
The authority has been split into the Shanghai Port Administration, the new port watchdog, and Shanghai International Port (Group). Lu Haigu, former chief of the port authority, will head up the state-funded Shanghai International Port. It will have assets of Yn5bn and will open up to foreign investment after a year.
China's first state port law is expected to be unveiled soon.