Guangzhou Port Co was listed on the Shanghai Stock Exchange on March 29, generating 1.6 billion yuan ($232 million) from its initial public offering.

The funds will be used to build new berths and docks for the third phase of its Nansha Port Area.

Guangzhou Port Co is listed on Shanghai Stock Exchange on March 29, generating 1.6 billion yuan ($232 million) from its initial public offering. [Photo/xwgd.gov.cn]

Guangzhou Port has served as an important economic and transport center for the Pearl River Delta region and Guangdong province, dating back to Ming (1368-1644) and Qing dynasties (1644-1911).

The seaward channel of the Guangzhou Port is one of busiest waterways in the world.

In 2015, Guangzhou Port handled 17.62 million containers, ranking fourth among domestic ports and seventh in the world. Some 50,000 containers are collected and distributed every day.

The port experienced positive growth last year, with cargo and containers ranked at sixth and seventh in the world respectively.

In 2016, Guangzhou Port Co opened 18 new international lines, of which four go to Europe and the US. A further 10 lines are set to open this year.

"The number of containers handled increased significantly last year, thanks to the expansion of shipping lines," said Guangzhou Port Co Vice-general manager Song Xiaoming.

Guangzhou mayor Wen Guohui said the latest round of expansion signals that Guangzhou is set to further develop to become an international hub for shipping, aviation and science and technology.

Containers are loaded and unloaded at Guangzhou's Nansha Port, currently in its third phase of development. [Photo/xwgd.gov.cn]

"Guangzhou Port is striving to develop its businesses of aquatic products, a cruise liner and yachting destination, and aims to become a national aquatic products trading center in South China," Wen said.

Guangzhou Port Co plans to increase cargo throughput to 420 million tons and container throughput to 17.5 million, and open 10 more routes for foreign trade, two land ports and six shuttle branch lines.

To boost the rapidly growing cruise industry, two new routes will open in 2017, expected to carry more than 400,000 passengers.

Guangzhou Port Co was jointly founded by the Guangzhou Port Group, SDIC Communications Holding Co and Guangzhou Development Group Incorporated in 2010, with a registered capital of 5.5 billion yuan.