China actively deploys the "Blue Economic Channel"
China is increasing its efforts to acquire overseas ports and expand its reach as a maritime power. In the past year, China has doubled its investment in port projects to 20 billion U.S. dollars, and is pushing ahead with plans to open new routes to the Arctic Ocean.
It's not just the world's large ports that attract Chinese investment. Many smaller ports-including those in key strategic locations such as Djibouti, Hambantota in Sri Lanka, Darwin in Australia, and Maday Island in Myanmar, as well as the proposed The ports of the Atlantic island nations of São Tomé and Príncipe and Walvis Bay of Namibia-have also attracted Chinese investment or port commitments.
Due to the lack of data disclosure, it is difficult to calculate the total scale of such investments. But according to the collaboration between Sam Beatson and Jim Coke of the Lau China Institute of King's College, London, and the British “Financial Times” According to the research conducted, since 2010, the transactions completed or announced by companies in Mainland China and Hong Kong include at least 40 port projects with a total value of approximately US$45.6 billion. There have also been multiple transactions — from Carey Island in Malaysia to Chongjin in North Korea — although there have been reports, the reports did not disclose any financial details.
The ports welcoming Chinese investment are all close to the three “blue economic channels” proposed by China in June. Beijing said that these channels are important for the grand “Belt and Road” plan (the aim is to win diplomatic allies in about 65 countries in Asia and Europe. And open the market) is critical to success.
A study by Grisons Peak, a London-based investment bank, found that in the year ended June, Chinese companies had announced plans to acquire or invest in 9 overseas ports. The total value of these projects reached US$20.1 billion. . In addition, plans to invest in several other ports are under discussion, but the value is unknown.
According to estimates by the British Financial Times, this level of activity is a sharp acceleration compared to the US$9.97 billion that China invested in overseas port projects in the year ended June 2016.
“In the past year, China has announced all three of its blue economic channels, so it’s not surprising to see a significant increase in Chinese investment in ports and shipping,” said Henry Tillman, CEO of Grisons Peak. Tillman) said.
One of the three maritime routes is the route from China to the Indian Ocean and then to the Mediterranean. Its importance is particularly evident in the newly announced investments.
According to the company’s announcement, four investment projects by Chinese companies will be launched in Malaysia: the US$7.2 billion Melaka Gateway, the US$2.84 billion Kuala Linggi Port, and the US$1.4 billion investment. Penang Port and the US$177 million Kuantan Port project.
In Indonesia, Ningbo Zhoushan Port Company plans to invest US$590 million in the expansion of Kalibaru Port in Tanjung Priok, Jakarta, the largest port in Indonesia.
Gu Jing, an expert at the Institute of Development Studies at Sussex University, said that attention to Southeast Asia is an example of Beijing’s efforts to establish “good neighborly and friendly relations” in the region. "However, given the continuing issues surrounding territorial sovereignty and China's economic power and resource needs, this is also quite controversial," added Gu Jing, who is the Centre for Rising Powers and Global Development (Centre for Rising Powers and Global Development) of the school. Development) director.
Another of the three remarkable sea routes is the route from China to Europe via the Arctic Ocean. This route is expected to shorten the sailing time by several days. A planned project involves a new deep-water port near Arkhangelsk on the Russian White Sea, and a railway deep into Siberia.
Chinese officials say that plans to invest in port and railway projects led by China's state-owned Poly Group have gained new impetus after Chinese Vice Premier Wang Yang visited Arkhangelsk this spring.
The port of Klaipeda, Lithuania, one of the feeder ports on the Arctic route, attracted an investment proposal from China Merchants, with the aim of building a new large container port. According to people familiar with the matter, other potential Chinese port investment projects that are already under discussion include the Norwegian port of Kirkenes on the Barents Sea, and two ports in Iceland.
Jonathan Hillman, a director of the Center for Strategic and International Studies (Center for Strategic and International Studies), said that some of China’s port investment is questionable: Is Beijing pushing forward under the guise of chasing business An undisclosed strategic agenda?
Pakistan’s Gwadar port, which borders the Arabian Sea, is at the throat of the world’s energy transportation routes. Most of China's oil imports are transported through sea lanes not far away; any interruption may make the world's second-largest economy feel breathless.
The strategic location of Gwadar Port, which is controlled, financed and built by China, is extremely important. But for many years, Islamabad and Beijing have denied any military plans for the port, insisting that it is only a purely commercial project aimed at strengthening trade. Today, this veil is slipping.
"From a strategic point of view, port ownership opens the door to non-commercial activities such as stationing troops and collecting intelligence," Hillman said. "But in addition to the grand strategy, there are also low-end political factors at work. Certain interest groups in China and partner countries are eager to participate in new projects, and now they can do so under the big name of China's "One Belt One Road". "He added.