Lianyungang Port seeks to boost profit by 15% in 2008

Jiangsu Lianyungang Port Co<601008>, the Chinese port operator, expects net profit to climb 15% this year on rising trade, head of the company said.

It plans to boost its cargo volume to more than 50 million tons in 2008 from 40.8 million tons of the previous year, said President Yu Xiangyang of Lianyungang Port Group Co, the parent company.

Lianyungang Port which floated shares last year on the Shanghai Stock Exchange saw its net income jumped 19% to RMB 100 million in 2007.

With its strategic location, Lianyungang Port, one of the top 10 ports in China, acts as the most economical and convenient doorway to the Pacific Ocean for China and nations in middle Asia.