The port is under construction in Heilongjiang Province in northeast China. The first stage of the project will have annual throughput of 150,000 tonnes.
When the second stage is complete by September 2019, the port will have an annual capacity of 650,000 tonnes.
The port will connect with Khabarovsk and Nikolayevsk-on-Amur ports in Russia, as well as ports in the Sea of Japan and south China, according to the report, creating shipping routes for grain harvested in Russia by Chinese enterprises.
It is being constructed by the Heilongjiang Shipping Group and Dongjin Group at a cost of $48 million.
In recent years, companies based in Heilongjiang, Shanxi, Henan and Guangdong provinces have planted grain in Russia, increasing the demand for grain transportation to China, the report said.
Developers believe the new shipping route will dramatically cut shipping costs compared to ground transportation that has been used in the past.