The Shipping Exchange Forum Shanghai 2014, which was hosted by Shanghai Shipping Exchange (SSE), was opened on November 27.

Mr.Xu Zuyuan,the director of China Institute of Navigation and the former vice minister of Ministry of Transport noted in his speech at the forum that the innovation development is considered to be the only way to realize the goal of recovery in shipping industry.

Actually, with the issue of Some Opinions on the Sound Development of the Maritime Industry by the State Council in this August, the development of shipping industry has become the national strategy for the first time, which is undoubtedly the innovation in policy for shipping industry.

In Mr.Xu Zuyuan’s opinion, there are four requirements for innovative development in shipping industry: policy support, market-orientation, enterprises’ initiation and cultural environment. He noted that the purposes of shipping innovation is to improve efficiency, reduce costs, optimize services and to increase additional value, and the platform for innovation will be financial service, shipping exchange, Internet of Things, Big Data Platform as well as shipping enterprises and other relevant service agencies. While the innovation lies in policies, market supervision and technical personnel.