ANNOUNCEMENT 04 Aug 2013
August 4th, 2013 - China's Central People's Government released a new plan to boost the domestic shipbuilding industry, through direct and indirect placement of funds in appropriate industrial sectors and firms, as well as favourable credit policies for eligible companies.
NUMBER OF INTERVENTIONS
PRC Central People's Government, August 4th 2014. (国发〔2013〕29号——国务院关于印发船舶工业加快结构调整促进转型升级实施方案（2013-2015年）的通知)
On the 4th of Augsust 2013, the Central People's Government of the PRC released a plan, building on a previous policy from 2009 (see related measure). The new plan promises government support for further expansion of the shipbuilding industry through, amongst other means, the encouragement of financial investments in the shipbuilding sector, 'to actively expand diverse channels of financing'.
Unlike the 2009 plan, this new one shifts the focus of the measures, directing investment into specific parts of the shipbuilding sector, such as environmentally-friendly shipbuilding processes and ships.
The plan will cover the period from its release until the end of 2015.
In addition to the above, as with the previous plan (see related measure), this renewed version also calls for increased credit channels for 'export buyers' of ships. This plan, however, also calls for 'credit financing support', 'credit insurance measures' and various other means to open up credit channels for Chinese shipbuilders.