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China spells out 2020 roadmap to develop shipping sector

China spells out 2020 roadmap to develop shipping sector
China’s ministry of transport has spelled out a roadmap to 2020 on the development of its shipping industry, in a bid to raise the sector’s level of services and global competitiveness.

The seven-page guideline broadly states that China will focus on improving its policies to benefit shipping enterprises, sharpening technology and innovation, boosting financial services and strengthening ancillary services.

The ministry believed that the shipping sector, including both coastal and inland trades, is in need of an upgrade to meet future challenges and requirements.

Some key upgrades would include the further development of legal and insurance services, information technology, R&D, and shipping indices.

There will also be a focus on attracting talents into the industry, upgrading the skills of employees, strengthening company management systems, and expanding international cooperation.