Annual Report 2021

ANNUAL REPORT 2021 11 FUTURE PROSPECTS Looking into 2022, the global economy will continue to show a general tone of recovery, however, the COVID-19 pandemic will continue to bring uncertainties to the global economic recovery. In January 2022, the IMF predicted the global economy to grow by 4.4% in 2022. The developed economies, the emerging markets and developing economies will grow by 3.9% and 4.8% respectively. Global trade volume (including goods and services) will grow by 6.0%, down by 3.3 percentage points as compared to that of 2021. Looking into 2022, although the global container shipping market is expected to gradually return to normal, the container shortage and port congestion will be hard to improve in the short term. In terms of container freight rate, it is estimated to fluctuate at a medium to high level with high volatility, with a low probability of falling back to the low level before the pandemic. In the future, positive factors such as the sustained recovery of the global economy and trade are expected to have a positive impact on the port industry. As a leading comprehensive port service provider in the industry, the Group will take into account the domestic and international economic and trade situation as well as the development trend of the port and shipping industry, and seize the important opportunities for the implementation of China’s major strategies. The Group will stick to the new development concept, fulfil the requirements of high quality development and pursue the strategy of “to be a world’s leading comprehensive port service provider”, so as to create greater value for the Company and seek more returns for its shareholders. In 2022, the Group will continue to adhere to the general tone of making progress while remaining stable, embarking on a new development stage, being committed to a new development philosophy, building a new pattern of development, as well as insisting on the improvement of quality and efficiency. The Group will vigorously promote the quality development of business and operation, and be committed to realising the strategic goal of “to be a world’s leading comprehensive port service provider” with planned key priorities set out as below: With regard to the construction of homebase ports, the West Shenzhen Port Zone will closely follow the strategic goal of making China a strong transportation country. The Group will continuously improve service quality and promote infrastructure construction, while strengthen the operation of the blockchain platform for logistics and trade facilitation to comprehensively improve various capacities. The Group will continue to build up overseas homebase port as a world-class shipping centre in South Asia and a strong regional port. The Group will continue to leverage the advantages of port area linkage via enhancing the integrated service port services and strengthening cooperation with all parties such as shipping companies. In terms of overseas business, the Group will continue to optimise its overseas presence. On the one hand, the Group will continue to strengthen regional market expansion and promote port-vicinity industry projects. On the other hand, the Group will enhance the management efficiency for overseas projects, strengthen the risk prevention and control, and improve the quality and efficiency of overseas terminals, so as to increase the income from overseas business. In respect of comprehensive development, the Group will strive to become an important link in the internal and external economic cycle, and a cornerstone for the security and stability of the industrial supply chain. Apart from improving quality of services to existing customers and increasing customer stickiness, the Group will enhance the capability