ANNOUNCED AS TEMPORARYNo
On the 9th of June 2009, the PRC Central People's Government released a plan to boost China's domestic shipping industry. Among the means mentioned that will be used to carry out this plan, it calls for the increased financing of relevant firms, more cooperation between banks and shipbuilding firms.
The policy also mentions the encouragement of the repair and procurement of damaged/abandoned ships. This element of the plan was formally ratified in a later policy see related measure).
Some Chinese news sources reported production subsidies of 17% to keep the industry afloat during the financial crisis.
The notice specifies the period covered by the plan as 2009-2011.
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