China’s Ministry of Industry and Information Technology has announced that new project launches will be strictly controlled from now on, in the light of tough market conditions in the second half of this year.
The Ministry also said it would no longer approve new shipbuilding projects. The Chinese Government also urged shipbuilders to take precautions against worsening market conditions, improve its innovativeness and work towards strengthening the sector’s development.
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Wednesday, November 12, 2008
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