China-flagged ships favored
CHINESE ships registered at the Yangshan Deep-water Port can now enjoy export rebates and other favorable policies as the port became the first in the country to accept bonded ship registration from yesterday.
Domestic shipowners previously needed to pay more for China-flagged vessels because they couldn't enjoy the export rebates for them. This led many domestic companies which are engaged in international shipping to register their vessels in foreign countries to trim operating cost and avoid China's strict quarantine and other regulations.
Shanghai, the world's largest container port, only has 380 registered international ships, which lags far behind Hong Kong and other global ports, the Shanghai Maritime Administration said, adding that Chinese ships registered overseas increase annually.
"The trend restricted the development of shipping-related financial services, including ship mortgage and insurance," said Chang Fuzhi, a spokesman for the administration.
Shanghai aims to attract more international ships to register in the city to boost the financial leasing and other service sectors related to the shipping industry as the city tries to develop itself into a global shipping hub by 2020.
The next step will see the Shanghai Free Trade Zones working with the maritime authorities to develop favorable policies in customs, foreign exchange and tax exemption.
Domestic shipowners previously needed to pay more for China-flagged vessels because they couldn't enjoy the export rebates for them. This led many domestic companies which are engaged in international shipping to register their vessels in foreign countries to trim operating cost and avoid China's strict quarantine and other regulations.
Shanghai, the world's largest container port, only has 380 registered international ships, which lags far behind Hong Kong and other global ports, the Shanghai Maritime Administration said, adding that Chinese ships registered overseas increase annually.
"The trend restricted the development of shipping-related financial services, including ship mortgage and insurance," said Chang Fuzhi, a spokesman for the administration.
Shanghai aims to attract more international ships to register in the city to boost the financial leasing and other service sectors related to the shipping industry as the city tries to develop itself into a global shipping hub by 2020.
The next step will see the Shanghai Free Trade Zones working with the maritime authorities to develop favorable policies in customs, foreign exchange and tax exemption.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.