Qingdao Port shows recovery

March 8, 2010, 3:27pm

BEIJING, March 8 (Reuters) – China's trade is recovering but has some time to go before it returns to pre-crisis levels, said the head of China's second-largest foreign trade port, Qingdao Port Group, which is a bellwether for trade and iron ore demand.

Qingdao Port's total throughput was up 9 percent in January and February from a year earlier, while container throughput was up 6 percent, chairman Chang Dechuan said in an interview in Beijing on Wednesday ahead of the National People's Congress annual meeting this week.

''We're pretty pleased with this pace of growth, because it wasn't easy.

We're also pleased with the container rate, which is a real indicator of national trade,'' said Chang, a Qingdao native who has spent his whole life working at the port.

''This year is a pretty complicated year, so I caution against too much optimism. At the moment, the first quarter is looking ideal, and the second quarter is also pretty good. But we really can't tell how the second half will play out.''