The world shipping markets have exhibited unprecedented growth and prosperity in 2003. Undoubtedly, China was the spotlight throughout. Indeed, the so-called "China Factor", has been the major driving force behind the robust rallies in all of the major shipping market sectors: container liner shipping, dry bulk shipping and oil shipping over the past year.

Since China entered the World Trade Organisation in late 2001, the country's economic development has gained a new lease of life and levels of foreign direct investment have soared. This has spear-headed many changes, with China increasingly taking on the mantle as the "factory of the world". In turn, this has created a voracious appetite for raw materials and energy product, and it is leading to a complete shift in world trading patterns.

So how will the world change in the future because of China, and what impact will this change have on raw material suppliers, trade partners, logistics providers and shipping companies?What would the effects of the restrictive policies which Chinese government is implementing on some industries at present be on shipping industry? What would the "Chinese factors" contribute to the structural changes of the international shipping market? To create an information platform for a first tier discussion on this issue, China's largest shipping group COSCO has joined up with an internationally renowned maritime consultancy Drewry Shipping Consultants in London, and one of China's largest shipping media groups Maritime China, to hold this very first world annual shipping summit "World Shipping (China) Annual Summit" in 2004.

This year's summit will focus on the "China Factor". Key Chinese government officials, senior figures from renowned international and domestic companies and institutions engaged in shipping and related businesses, investment banks, and globally recognized research and consultancy experts and academics will be invited to speak on all of the issues. This will forge an in-depth debate on the structural impact of the "China Factor" both on global trade and the shipping markets. The annual summit will offer those participating a clearer picture of China's future trading requirements and its role in the world's maritime industries.

"World Shipping (China) Annual Summit" will be held in Beijing during July. The event will foster an exchange platform for international and Chinese enterprises, and will be dynamically positioned to master the future market pulse, discern client needs and create commercial opportunities for all those involved.