Shenzhen: The Chinese government has announced one-time concessions to entice international shipping companies and freight forwarders to the southern port of Shenzhen. Under the scheme, made public by deputy mayor Zhang Shiping over the Easter weekend, liner companies would receive $650,000 per international route and $194,000 per new domestic route added to a Shenzhen port.
The liner companies would be eligible for a $518,000 subsidy should they choose to set up their headquarters or operation centres in the city, while freight forwarders would be eligible for $389,000. The government also announced that it would also provide $10,000 for every new barge service calling at Shenzhen.
The port subsidies are expected to increase traffic through the port by 15% by providing a commercially attractive alternative to its popular neighbouring port Hong Kong. [10/04/07]
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