China to establish a national shipping development fund


China should establish a national shipping development fund to promote the country's maritime industry, an industry insider said.

Shouguo Zhang, executive vice chairman and secretary general of China Shipowners' Association, urged Beijing to make this move at the 2014 China Port & Shipping Development Forum in Shanghai.

In State Council's guidelines to support China's maritime industry, which was published in September, Beijing lists among key assignments the setup of shipping development funds that operate by market principles.

"The existing and planned shipping funds in China are private and small-sized," Zhang said. "If we want to reach the goal given by the State Council, we should establish a national fund."

"These guidelines are like frames and principles," Zhang added. "But there is a question mark if they can be implemented."

Source from : CNSS