China has issued further guidance to support and modernize its shipping industry, saying it would encourage mergers and private investment as well as develop its cruise industry. The world's biggest trading nation is focusing on the shipping industry as it grows more assertive over territorial disputes in the South China Sea, unnerving neighbors such as Vietnam and Japan, and looks to secure its supply chains. It comes as the global shipping industry has been struggling to recover from a prolonged slump brought on by a glut of ships ordered before the global financial crisis of 2008/09. It first published a set of guidelines in September to support and develop its shipping industry.
via Business News http://ift.tt/1o8P1Dv
via Business News http://ift.tt/1o8P1Dv
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