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|  | | Shipbuilding enterprises restructure MIIT to issue guidelines |
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¡¡¡¡In the couple of years following 2010, there will probably be an approx. 50% excess capacity in China's shipbuilding facilities. In response to this situation, the Ministry of Industry and Information Technology (MIIT) is now working with relevant departments to draw up guidelines for ship enterprises' merging and restructuring. In the generally completed draft, more favorable taxation and credit policies will be carried to support mergers and acquisitions, as to reduce the mentioned costs, then to increase the degree of shipbuilding industry concentration. However, as the views of all involved departments are still not unified, specific time table for guidelines issue are yet to be confirmed.
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