China looks to spur shipbuilding consolidation

Beijing - China has announced nine additional shipyards - commercial and naval - that will receive policy support as part of continuing efforts to spur consolidation and technological advancement across the country’s vast shipbuilding sector.

In a statement on 10 December China’s Ministry of Industry and Information Technology (MIIT) said the shipyards had been added to a list of 51 shipbuilders announced in September that will receive state benefits such as tax rebates and easier credit.

The list is referred to by the MIIT as the shipbuilding “white list”. New additions to the white list include subsidiaries of the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC) and the AVIC Weihai Shipyard owned by the Aviation Industry Corporation of China (AVIC).

(Source: IHS)