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China expected to issue plan to boost shipping industry soon, insider
BEIJING, Mar 14, 2013 (Xinhua via COMTEX) --
China is expected to issue a plan to
boost the shipping industry in the near future, an Economic
Information Daily report said on Friday, citing an unnamed insider.
According to the report, China will provide favorable policies,
such as subsidies, for ship demolition and purchases of shipping
companies.
China's shipping industry has been in the red for two years
running. In 2012, over 80 percent of the shipping companies in China
incurred losses, according to Zhang Shouguo, vice chairman of the
China Ship-owners Association. (Edited by Jiang Yujuan,
jiangyj@xinhua.org)
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