On December 6, Tianjin Port Group and China Merchants Group signed a strategic framework cooperation agreement. In the future, both sides will take the guidance of the 19th CPC National Congress as the guide and closely focus on further exerting the functional role of Tianjin Port as an important carrier of national strategies and a national-class central port for the "Belt and Road" Initiative, the Beijing-Tianjin-Hebei Coordinated Development and the construction of Xiongan New Area, to boost the construction of the northern international shipping core area.
It is claimed that China Merchants Group is an important state-owned backbone enterprise directly managed by the Central Government. With its headquarters in Hong Kong, it is listed as one of the four Chinese-funded enterprises in Hong Kong. The business mainly focuses on the three core industries of transportation (ports, highways, shipping, logistics, marine industry and trade), finance (banking, securities, funds and insurance) and real estate (development of parks and real estate). It founded the first merchant fleet in modern China and opened the first bank in China, the first insurance company, etc. so it opened up the shipping industry in modern China and many other modern economic fields. It has an important position in the modern economic history and social development in China.
Over the years, Tianjin Port Group and China Merchants Group carried out a number of joint ventures and cooperation in port logistics and cruise economy to jointly set up Tianjin Wuzhou International Container Terminals Co., Ltd., which has four specialized berths, and set up and operate the largest joint venture of cruise terminal in Asia – "Tianjin International Cruise Home Port". They have established a strategic partnership with profound resource sharing, complement to each other, mutual benefit, win-win results and sustainable development. According to the agreement, in the next step, they will hold a comprehensive round of national strategies such as the "Belt and Road" Initiative and the Beijing-Tianjin-Hebei Coordinated Development while centering on the spirit of the 19th CPC National Congress regarding "building a modernized and powerful country in transport, maritime power and trade", to deepen the reform of state-owned enterprises and to push forward the economic growth with mixed systems. They will further explore new ways of deepening capital cooperation and carry out strategic cooperation in the areas of port operations, regional comprehensive development, integrated logistics services, financial services and personnel exchange training at home and abroad, expand the global space for development, strengthen the construction of high-end factor markets, enhance industrial service functions, promote industrial agglomeration, build a logistics network with ports as the core, dock with the world, connect the hinterland and serve the whole country and promote the integration of port functions from logistics and transport distribution to logistics and trading integration so as to make Tianjin Port a world-class modernized strong port and to boost Tianjin's economic development and industrial upgrading. It has made a positive contribution to the realization of the principle of "opening a two-way cross-economy and opening up to the outside world" proposed by the report of the 19th CPC National Congress.