China import boost will benefit shipping amid trade tensions, says Cosco chairman
A more balanced Chinese trade will help container carriers to increase backhaul cargoes and improve profitability, Cosco Shipping chairman Xu Lirong tells Lloyd’s List. While the ongoing Sino-US trade war remains a threat, CMA CGM chairman Rodolphe Saadé believes things will quieten down between the two countries and Southeast Asia cannot replace China’s position as an exporting centre
Remarks come after President Xi pledges to ramp up China’s inbound cargo to more than $30trn in the next 15 years, while Alibaba vows to use its e-commerce platforms to bring $200bn of imported goods into China
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