Financing Boundary

Hunan's green-port works moved before the AIIB loan

Published 2 August 2026 Publisher IMWO Region Asia Pacific Confidence Confirmed
Water-level view of the Daorenji terminal open high-pile quay on the Yangtze River during upper-deck construction

China Media Group / Hao Ziyang; Daorenji construction detail published 28 April 2025

AIIB still labels its USD 200 million Hunan green-port loan proposal as Proposed, yet local records show Daorenji's main marine structure complete and Songyanghu III in field installation. The programme must therefore be read as three component ledgers and a separate financing ledger, not as one bank-funded construction contract.

Two terminal components have moved into physical delivery

AIIB controls the proposed finance layer and original three-terminal concept. Hunan government and transport sources control local approvals, procurement and physical progress. Later contractor-attributable progress confirms CCCC Second Harbor at Daorenji and Hunan Waterway Engineering at Songyanghu III. AIIB still reports the financing as Proposed; Songmu II construction, Daorenji commercial operation and Songyanghu handover remain unpublished.

Five monetary records have different boundaries

Daorenji and Songyanghu III already expose named contractors, pile and precast quantities, equipment procurement and component-level investment. Songmu II does not. Combining all three under the lender headline would overstate both financing certainty and delivery coverage, while importing older Songmu Phase I operations would create a false completion signal for Phase II.

Evidence conclusion

The next proof sits at commissioning, handover and the missing third component

Outstanding evidence

  • AIIB approval, signing, effectiveness or withdrawal
  • Daorenji equipment installation and commissioning
  • Daorenji acceptance and first sustained cargo service
  • Songyanghu III deck installation and berth completion
  • Songyanghu III equipment and operating release
  • Songmu II approval, tender, award or mobilisation
  • Final environmental and supervision awards
  • Terminal-specific throughput and environmental performance

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