Annual Report 2023

201 ANNUAL REPORT 2023 42. PARTICULARS OF PRINCIPAL JOINT VENTURES Name of joint venture Place of incorporation/ registration and operation Proportion of effective ownership interest held by the Company Principal activities 2023 2022 % % Asia Airfreight Terminal Company Limited Hong Kong 34.60 34.60 Airfreight services Euro-Asia Oceangate S.àr.l. Luxembourg 40.00 40.00 Ports and container terminal business Port of Newcastle Investments (Holdings) Trust Australia 50.00 50.00 Management of port operation and port development Qingdao Port Dongjiakou Ore Terminal Co., Ltd. (Note) PRC 25.00 25.00 Ports and bulk cargo terminal business Qingdao Qianwan United Container Terminal Co., Ltd. PRC 50.00 50.00 Ports and container terminal business Qingdao Qianwan West Port United Terminal Co., Ltd. PRC 49.00 49.00 Ports and bulk cargo terminal business Red Sea World S.A. Republic of Djibouti 23.50 23.50 Land development Note: Sino-foreign joint ventures.