Greater China

Beijing to increase ship export tax rebate

Beijing: The Ministry of Finance plans to implement new policies to improve the competitiveness of several industries including shipbuilding, machinery and textiles.

The policy will support shipbuilding companies by increasing ship export tax rebates, which will reduce costs for companies and help accelerate the transformation of the industry, the ministry said.

In the first half of 2013, China received new shipbuilding orders of 22.9m dwt, a year-on-year growth of 113.2%, and completed ship exports of 17.28m dwt, down 34.4% year-on-year. [24/07/13]

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