Num­ber of ship­yards, docks will be cut

China Daily (Canada) - - NEWSCAPSULE -

China, the world’s largest ship­build­ing coun­try, will cut the num­ber of ship­yards, docks, berths and main­te­nance fa­cil­i­ties it opens, ac­cord­ing to an of­fi­cial.

“Blind in­vest­ment ac­tiv­i­ties in the ship­build­ing sec­tor must be re­strained,’’ said Li Dong, deputy di­rec­tor-gen­eral at the depart­ment of equip­ment in­dus­try at the Min­istry of In­dus­try and In­for­ma­tion Tech­nol­ogy.

China has 1,600 ship­build­in­gre­lated en­ter­prises, in­clud­ing 800 large ship­yards. A to­tal of 1.5 mil­lion people work in the in­dus­try, ac­cord­ing to the Na­tional De­vel­op­ment and Re­form Com­mis­sion.

“Even though China re­ceived more or­ders than Ja­pan or South Korea last year and this year, new ship prices hit rock bot­tom over the past two years, and there is no sign of re­cov­ery,” said Zhang Guangqin, pres­i­dent of China As­so­ci­a­tion of the Na­tional Ship­build­ing In­dus­try. “It will take an­other five years for over­ca­pac­ity to be eased.” (Photo 1)

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