James Wang speaks more on the risk Shanghai is taking by developing a new port on the Yang Shan Islands.

[The] Shanghai municipal government, or even the central government in China or the Ministry of Communication, they believe that once we set up a good hub, this kind of transshipment will increase naturally. But actually, according to, it's my understanding, and there are many others that, actually, in this market, shipping lines play a dominant role. They decide where they do the transshipment. And it's easily [the case] that the transshipment hub will really be relocated from one port to another.

It happens in other places, like in Singapore, one major shipping line -- the biggest shipping line in the world, shifted their transshipment hub to Malaysia. [Malaysia has] a new port…that port gives a big discount and also gives some shares to the shipping line. So the shipping line left Singapore. The same situation happened in Rotterdam. And also it's possible to be the case in Hong Kong. So the shipping line can go to Shenzhen without stopping in Hong Kong.

And the same situation may happen later on in Shanghai. The shipping lines, major shipping lines may use a cheaper port like Ningbo, because Ningbo doesn't need to build up a new bridge; they have natural deep water, negative 22 meters without any problem. So, if some shipping lines, before Shanghai builds up that new port in the Deep Sea Islands, which take at least five years for the first terminal, within this five years, many things can happen. So if the shipping lines within this five years set up their hub in another port, then Shanghai is in trouble.