Greater China

Nantong announces shipbuilding subsidies

Dalian: Nantong local government has released a series of new subsidy policies for the local shipping industry, with RMB40m allocated to support the operations of local shipyards.

Local shipyards will enjoy a RMB10,000 subdiary for every 10,000dwt capacity in the newbuild orders. Shipping and offshore companies that purchase specified marine equipment from local providers will also be rewarded 2% of the annual purchase amount. The top limit of the subsidy to each company will not exceed RMB2m each year.

Nantong provided subsidies of RMB10.27m in total in 2013 to local shipbuilding and offshore projects. [24/07/2014]

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