The success story of Changshu.
In the early 1990s, Pan-United took a calculated plunge into uncharted waters in Changshu. The Chinese city was then an underdeveloped county scouting for foreign investors. PanU founder Ng Kar Cheong took just 30 minutes to spot the potential in a cotton field alongside the Changjiang (Yangtze) River.
The local government was hoping to build a coal terminal. Mr Ng walked along the river and proposed a larger ambition: An international port. He observed that the site was only 54 nautical miles from the river mouth. It enjoyed silt-free waters and was blessed with a very deep 13.3 metre draught. Perfect attributes of a deep-water port! It was only 90 km west of Shanghai and 40 km north of Suzhou.
At that time, shipping traffic to PRC was low. Many Yangtze River ports were making losses. The central government had yet to liberalise rules on port investments, particularly foreign investments. Changshu was without a port. That impeded its growth when other coastal cities were racing ahead.
In 1994, the Changshu government and PanU joined hands in a common vision to propel the city’s economic development. Together they would set up an international port and attract port-dependent industries to Changshu.
The first two years were the toughest. There was absolutely no cargo to attract vessels, and no vessels to attract cargo. The greenfield project had to secure layers of approvals from provincial and central authorities, and overcome the lack of local infrastructure.
Mr Ng’s son, Patrick, pushed on, undeterred. The local government lent strong support. The port welcomed its first vessels in 1997, the same year that the Asian financial crisis broke out.
In 2014, volumes swelled to more than 10.0 million tones and over 90,000 TEUs and the port’s infrastructural capabilities catalysed the economic transformation of the Changshu economy. Its 10th anniversary was a great cause for celebration. The grand event was graced by none other than the then-Minister Mentor Lee Kuan Yew.
Land preparation works for the port in January 1995.