国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Business / Policy Watch

FTZ to allow foreign, private players in shipping industry

By ZHAO LEI (China Daily) Updated: 2014-09-04 09:08

FTZ to allow foreign, private players in shipping industry

Cargo ships depart and arrive at Yangshan Port in Shanghai.FAN JUN/XINHUA

China will allow overseas investors to establish and own shipping enterprises, according to new guidelines that aim to boost the deficit-plagued sector.

The guidelines issued by the State Council on Wednesday pledged to give an open door to foreign investors and private companies in the shipping industry.

Shipping businesses fully owned and controlled by foreign investors can be founded within the China (Shanghai) Pilot Free Trade Zone, according to the guidelines.

China's shipping industry is dominated by large State-owned enterprises such as China Ocean Shipping Group Co and China Shipping Group Co. They have struggled with slumping revenues since 2008, when the global financial crisis crippled international trade.

FTZ to allow foreign, private players in shipping industry
Shipping sector sailing toward crisis
 
 
The 10 shipping companies listed in China reported a total loss of nearly 1.5 billion yuan ($243 million) for the first six months of this year, according to their financial reports.

"Compared with their counterparts in nations that have strong shipping industries, the Chinese shipping companies have been haunted by longtime deficits and their fleets are much smaller," He Jianzhong, vice-minister of transport, said at a Beijing news conference on the guidelines on Wednesday. "Their technological capability is also weaker than foreign competitors," he added.

Currently, more than 90 percent of China's international trade is carried out by sea, according to official data. But He said only 25 percent of China's imports and exports are carried by domestic shipping companies.

The vice-minister said that there are more than 240 shipping companies in China and their fleets have a total cargo capacity of more than 100 million metric tons, accounting for 8 percent of the global cargo shipping industry.

To boost the industry, the central government has decided to restructure the shipping sector by prioritizing its development as a national strategy, facilitating the expansion of selected enterprises and helping coastal cities build "international shipping hubs".

Favorable taxation and fiscal policies will play an important role in enhancing shipping enterprises' capacity and making them greener and more competitive, the guidelines said, noting the government plans to create a modern shipping industry by 2020.

Over the past year, the Ministry of Transport has abolished 26 administrative approval procedures that governed shipping operations, aiming to reduce government intervention, He said.

"The guidelines encourage shippers to sign long-term contracts with shipping companies, which can be translated as encouraging Chinese traders to hire domestic shipping providers rather than foreign companies," the 21st Century Business Herald quoted an unidentified industry insider as saying.

Hot Topics

Editor's Picks
...
...
东山县| 竹山县| 洪江市| 合川市| 施秉县| 巨野县| 天台县| 唐山市| 炉霍县| 垦利县| 娱乐| 北碚区| 昌乐县| 鄂托克前旗| 汉川市| 漳浦县| 林芝县| 上饶县| 竹北市| 黄石市| 峨边| 新兴县| 承德市| 黄梅县| 延安市| 灌南县| 涪陵区| 佛学| 广饶县| 延川县| 阿尔山市| 泸州市| 板桥市| 东辽县| 宜都市| 赤水市| 健康| 靖宇县| 山东省| 县级市| 观塘区|