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News

Chongqing government provides subsidies for shipping sector

21 December 2011
Nine barge operators and freight forwarders have been awarded subsidies totalling Rmb18.55m from the Chongqing municipal government. Minsheng Shipping and Yangtze National Shipping are among the recipients.

The subsidy scheme, started in July, is specifically designed to reduce the loading and unloading fees incurred by shipping lines and freight forwarders using Cuntan container terminal. Construction of the terminal was costly due to Chongqing’s difficult terrain in and consequently the loading and unloading fees that the terminal charges are high compared with other Yangtze terminals further downstream. The government provided the subsidy in a bid to encourage more barge operators and freight forwarders to operate in the bonded terminal.

As part of an aggressive approach to promote shipping, the local government has also announced a raft of new incentives, including exemption of business tax for shipping lines and freight forwarders. It also said that all shipping companies incorporated in Chongqing will pay corporate tax at 15 per cent rather than the standard 25 per cent.

     
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