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Pingtan encourages development of shipping industry

( chinadaily.com.cn )

Updated: 2014-12-22

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The transportation authority in Pingtan, Fujian province, has recently rolled out plenty of incentives to enterprises engaged in maritime transportation.

Shipping companies will get 35 yuan ($5.6) for every deadweight ton (dwt), while those using ships built by shipyards in Fujian and Pingtan will get a higher subsidy at 45 yuan and 60 yuan per dwt, according to a notice issued by the local transportation and construction bureau.

In addition, enterprises with a shipping capacity of 100,000 tons will get a bonus of one million yuan, and another 500,000 yuan for every additional 50,000 tons of capacity. The total bonus has a cap of two million yuan.

A shipping company which turns in more than one million yuan in tax will get a subsidy equivalent of 65 percent of local taxes it has paid. The ratio will increase to 70 percent for those paying 20 million yuan or more in tax.

New enterprises providing financial services (such as ship financing, maritime insurance, and settlement of capital) for the shipping industry in Pingtan with registered capital of more than 10 million yuan will get a reward equivalent to one percent of the registered capital, according to the notice.