Transport minister signals Beijing bailout of troubled shipping sector
THE Chinese government has worked out support measures for the troubled shipping sector as it suffers mega losses, Transport Minister Yang Chuan told the China Securities Journal reports.
But Mr Yang did not give a specific date of when the measures will be rolled out.
Mr Yang also disclosed that this year's traffic infrastructure investment will remain at the same level as last year, which will be about CNY1.4 trillion (US$225.27 billion). He said more of the money will be spent on central and western regions.
THE Chinese government has worked out support measures for the troubled shipping sector as it suffers mega losses, Transport Minister Yang Chuan told the China Securities Journal reports.
But Mr Yang did not give a specific date of when the measures will be rolled out.
Mr Yang also disclosed that this year's traffic infrastructure investment will remain at the same level as last year, which will be about CNY1.4 trillion (US$225.27 billion). He said more of the money will be spent on central and western regions.