Greater China

CANSI calls for financial support

Beijing: As the gloomy prospects continue in the shipbuilding industry and with banks cautious offering loans to shipbuilders, Wang Jinlian, Secretary Chief of China Association of National Shipbuilding Industry (CANSI) has called on financial institutions to help the shipbuilding industry get through difficult times. 

“We have been calling on National Development and Reform Commission, the Ministry of Industry and Information Technology of China, China Development Bank and so on for helping the shipbuilding industry,” Wang Jinlian said.

"The previous shipbuilding prepayments was up to 40% -60%, this year the number has dropped to 10% -15%, which has greatly pushed up the financial pressure of shipyards,"Wang Jinlian added.

From January to July this year, China has completed shipbuilding volumes of 35.49m dwt, a 7.7% decrease; with new received orders at 11.64m dwt, sharply down 50.7% comparing to the same period last year.[21/08/12]

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