News & Insights

China Subsidy Exchange

January 16, 2018

China Promotes Marine Engineering Equipment Manufacturing Industry


On January 5, 2018, eight Chinese central government agencies jointly issued the Marine Engineering Equipment Manufacturing Industry Sustainable and Healthy Development Action Plan (2017 – 2020) (Gong Xin Bu Lian Zhuang (2017) No. 298), to promote the manufacturing of Chinese marine engineering equipment. The marine engineering equipment manufacturing industry is one of the development priorities under the “China Manufacturing 2025” Strategy and a key component of the Chinese strategic emerging industries. The Plan aims to significantly raise the international competitiveness and sustainable development capability of the Chinese marine engineering equipment manufacturing industry by 2020. The Plan supports Chinese marine engineering equipment manufacturers to strengthen technology R&D and application, and encourages financial institutions to provide financial supports to high-quality marine engineering equipment manufacturing enterprises facing temporary financial difficulties.