China May Support Nation's Struggling Shipbuilders

The Chinese government is expected to introduce support for the shipbuilding industry soon according to Asiais.com

Citing an An Economic Information of China report, Asiais.com says that a 'Three-Year Plan to Strengthen China’s Shipbuilding Industry' is in the final stage of mediation, jointly provided by the three Chinese government agencies, the National Development and Reform Commission, the Ministry of Finance and the Ministry of Industry and Information Technology.

In essence the government's measures would encourage replacing vessels aged over 15 years and offe ar 20% of subsidy out of the national treasury for  vessels built in China's shipyards.

Source: Asiais.com