Greater ChinaOperations

Shenzhen offers $58.6m worth of coronavirus subsidies

Shenzhen Municipal Transport Bureau has offered total subsidies of RMB410m ($58.6m) to support the local shipping industry get through challenges brought by the outbreak of coronavirus.

The subsidies are offered to around 100 companies in the ports and shipping supply chain. The government hopes the fund would ease cash flow pressure for the companies.

Last week, China Shipowners Association called the government for a series of support as the country’s shipping and logistics supply chain struggles to cope amid the outbreak of coronavirus.

Shenzhen Port is the fourth largest container port in the world, completing a container throughput of 25.77m teu in 2019.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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