China is expected to
unveil new subsidy rules involving the demolition of ships this year, according
to China Securities Journal.
The draft is currently
in the approval process from related ministries, including the Ministry of
Finance and Ministry of Communications.
Some rules will be
loosened for companies applying for the demolition of ships, a direct response
to the nation's previous plan, which was deemed too strict on companies wishing
to demolish ships.
Old rules, such as
allowing companies to apply for a government subsidy in the purchase of new
ships after the company demolishes its older ones, will remain.
The new plan is expected
to dole out 4.56 billion yuan in subsidies for ship breaking, according to an
expert familiar with the plan.
Source:
china daily. 12 November 2013
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