Financial news

China cuts port service fees to boost logistic chains

By  | 

Via China Daily

Containers are unloaded from a ship at a port of Qingdao, East China’s Shandong province, on Feb 17, 2020. [Photo/Xinhua]

BEIJING – China will lower the service charges of ports to optimize the business environment and promote the work resumption of logistics firms, according to an official circular.

The circular, issued by the Ministry of Transport and the National Development and Reform Commission, said port charges for cargo and facilities security will be cut by 20 percent from March 1 to June 30.

The measure is expected to save enterprises and shippers 380 million yuan ($54.87 million), the circular said.

Mandatory emergency response fees for cargo ships other than oil tankers will also be cancelled.

Cooperation between ports, shipping companies and cargo owners should be strengthened and port operators are encouraged to give preferential treatment to small and micro enterprises affected by the novel coronavirus outbreak, it said.

In the meantime, the circular called for stronger supervision over the international shipping and port markets, and a crackdown on illegal activities.

Print Friendly, PDF & Email

Hold dit netværk orienteret

READ ALSO  Investing for income? I’d buy FTSE 100 dividend stocks in an ISA after the market crash