China Seeks to Strengthen Financial Services to Maritime Sector

China’s central bank on Thursday issued guidelines to strengthen financial services for maritime sector development, part of China’s efforts to build the country into a maritime power.

China will support maritime firms to raise funds through capital markets, according to the statement jointly issued by eight government agencies, including the People’s Bank of China and State Oceanic Administration.

China will also accelerate development of maritime related insurance and encourage insurance funds to increase investment in the maritime sector.