The 11%-33% Tariff Cuts on Seven Ports Will Pressure the Sector’s Earnings, but Downside Is Limited
With the aim of encouraging a recovery in foreign trade, the Chinese port sector’s antitrust investigations have concluded with 11%-33% handling tariff cuts on foreign-trade cargos for seven major ports from 2018, which will save about CNY 4.5 billion in logistic costs for import and export enterprises, according to the National Development and Reform Commission, or NDRC. While the tariff cuts will pressure these port operators’ profit margins, we expect little impact on the sector’s monopoly ad...
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