China issued its first ship trading price index on 12 March in Beijing. Its principal role is to monitor the trading prices of second-hand ships, according to Gong Yinjiao, president of major indexer, Zhejiang Shipping Exchange Market Co.

The price index, which is jointly published by the Ministry of Transport and the government of the coastal province of Zhejiang, is designed to provide market information and help guide and regulate the ship transaction market, according to experts reported by Xinhua.

The monitoring data is collected from more than 20 locations in coastal provinces such as Zhejiang, Guangdong and Liaoning, according to a statement from Zhejiang's provincial transport department. Zhejiang is home to China’s most vigorous ship trading market.

The index will be issued every two weeks.