Port equipment manufacturer hopes to harbor profits

The further liberalization of the capital account and financial services, including interest-rate reforms and greater convertibility of exchange rates, will lower costs and strengthen the international competitiveness of companies within the FTZ.

As a bonded duty-free area, goods can be handled, manufactured, altered and exported without interference from customs.

In addition, export duties probably won't be levied. Such beneficial tax policies will serve as a boon to domestic companies operating overseas.

"The FTZ will also help ZPMC secure more orders from overseas due to the lower financing and operational costs," said Wang of Huachuang Securities.

Founded in 1992, ZPMC accounts for more than 70 percent of the global port equipment production market, according to local media reports.

With ZPMC already dominating the saturated market for global port equipment, it is now exploring related industries, including steel fabrication and marine engineering, Song said.

During ZPMC's heyday in 2011, marine engineering accounted for 40 percent of its total orders. The company now expects to see strong returns from its offshore drilling platform business due to its collaboration with Friede Goldman United Ltd (F&G), the US-based designer and service provider for drilling platforms. ZPMC's parent China Communications Construction Co Ltd acquired Friede Goldman in 2010 for $125 million.

Unlike some Chinese maritime engineering companies that build their own hulls and depend on imported parts, ZPMC focuses heavily on research and develops key pieces of equipment itself, according to local analysts.

Its self-developed products include cranes, spud leg jacking systems, locking systems and hydraulic driven sliding systems.