Guangzhou's Nansha Free Trade Zone (FTZ) has been approved to pilot an international ship registration system, according to the Maritime Safety Administration under the China's Ministry of Transport.

The approval means Nansha Free Trade Zone is now one of the eight Chinese FTZs capable of registering vessel ownership, Shanghai and Tianjin included.

Simpler ship ownership registration procedures and related preferential policies will be offered to attract more ships to be registered at Nansha Port, expanding the ship financing market of Guangzhou.

Thousands of containers are ready for shipping from Nansha Port. [Photo/Xinhua]

In 2016, the cargo and container throughput of Guangzhou Port ranked sixth and seventh, respectively, among international ports. Nansha Port ranked top among global single ports in terms of container throughput.

More than 204,000 ships sailed from or arrived at Nansha Port in 2016, 160,000 of which were international.

Nansha is expected to drive the development of vessel-rated industries, including vessel financing, shipping insurance and maintenance, contributing to the development of Guangzhou into an international shipping center.

Ship registration is the process by which a ship is put on record and given the nationality of the country to which the ship has been documented. The nationality allows ships to travel internationally, providing proof of ownership of the vessel.

Shipping registration at Nansha Port will contribute to Guangzhou becoming an international shipping center. [Photo/Xinhua]