22 September 2018

Govt mulls subsidy for ship-breaking sector, paper says

The Chinese government is mapping out a subsidy plan for ship-breaking activities as part of efforts to support the sluggish domestic shipping industry, China Securities Journal reported Tuesday, citing unnamed sources. Threshold for subsidy applicants will be eased, it said. The total amount of subsidy may reach 4.56 billion yuan (US$748.36 million), with 37.2 billion yuan granted to dry bulk fleet operators, the report said.

– Contact HKEJ at [email protected]



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