Shenzhen sets up $428m shipping fund

Shenzhen sets up $428m shipping fund

The local government of Shenzhen has made plans to set up a policy shipping fund of up to RMB3bn ($428m) to support the development of the shipping industry.

The government-led capital will account for around 35% of the fund and the rest will comprise of investments from private sectors.

The fund will make investment into various shipping sectors including newbuildings, clean energy propulsion, shipping digitisation, shipbroking, insurance and law.

The government believes the fund will help the “smart” and “green” transformation of the local shipping industry and support the city’s development into a major maritime city.

Shenzhen, a major container port in China, completed a container throughput of 25.73m teu in the year of 2018, ranked fourth in the world.

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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