China presents ambitious plan for shipping

The Chinese government plans to perform comprehensive reforms of the country's shipping industry, to ensure that it is state-of-the-art by 2020, according to a plan presented on Wednesday.

Photo: Georg Hammerstein/POLFOTO/ARKIV

The Chinese government has presented an ambitious plan on Wednesday aimed at developing the country's entire shipping industry. The plan made the Cosco and China Shipping shares soar.

According to news agency Reuters, China will introduce measures such as tax reforms, to help carriers finance upgrades and fleet renewals to secure more environmental an efficient ships by 2020, according to an official statement.

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