Aerial view of Shanghai Port in Baoshan district, Shanghai Photo: VCG

The smooth lifting of a container from an ocean liner docked at Shanghai Port on Sunday marked a historic milestone: The port's 2024 container throughput surpassed 50 million 20-foot equivalent units (TEUs), making it the first in the world to achieve this record. 

It is also expected to secure Shanghai Port's position as the world's busiest port for the 15th consecutive year, according to a statement the Shanghai International Port Group released on Sunday.

Since container transport began in 1978, Shanghai Port's container throughput has accelerated rapidly, surpassing 20 million TEUs in 2006, 30 million in 2011, and 40 million in 2017.

Shanghai has maintained its position among the world's top three shipping hubs for five consecutive years. With nearly 350 international routes, Shanghai Port connects over 700 ports across more than 200 countries and regions, holding the global lead in port connectivity for 13 years, the company said.

After years of continuous efforts, Shanghai has established itself as a fully integrated international shipping center with well-developed functions and a robust system. Its role as a hub serving the entire country and connecting the world has been further strengthened, Chen Jining, Party secretary of the Shanghai Municipal Committee of the Communist Party of China, said at a seminar on the development of the Shanghai international shipping center on Sunday.

Behind the rapid growth of Shanghai Port is China's fast-growing foreign trade. This year, China's imports and exports have continued to rise quickly, clearly surpassing the global average, Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times on Sunday.

Currently, Asia is proving to be a more dynamic player in the global economic landscape. Shanghai has leveraged its geographical advantages, actively advancing its role as an international shipping center, including the establishment of free trade zones and the implementation of facilitative policies, Xi said.

China's foreign goods trade increased by 4.9 percent year-on-year to reach 39.79 trillion yuan ($5.49 trillion) in the first 11 months this year, according to data from the General Administration of Customs.

While China's foreign trade has faced a complex internal and external environment in recent years, the achievements of Shanghai Port reflect the significant success of domestic macroeconomic policies and the proactive responses of foreign trade enterprises, Zhou Maohua, an economist at China Everbright Bank, told the Global Times on Sunday.

In addition to its geographical advantages, Shanghai Port also benefits from an efficient logistics network, a rich talent pool, active port services and technological innovation, as well as strong financial support, Zhou noted.

Looking ahead to 2025, global demand remains weak, and factors like geopolitical conflicts, trade protectionism, and the reshaping of global supply chains present challenges for both China and global trade. However, these negative factors should not be overstated, as there are still many favorable conditions for China's foreign trade, with its advantages continuing to grow, both experts stated.

Zhou noted that the global economy is expected to maintain a recovery trajectory, while China's foreign trade structure is becoming increasingly diversified, and its trade quality is improving. 

While trade protectionism will further drive changes in global trade patterns, there is still significant potential for trade with regions such as ASEAN, Belt and Road Initiative partner countries, and Latin America. Additionally, the quality of China's exports, especially in areas such as green technology and high-tech manufacturing, continues to improve, offering substantial growth potential, Zhou added.