State Council: Improving the level of marine development equipment to support mergers and acquisitions

According to the news of the Chinese government network on October 15th, in order to actively and steadily resolve the contradiction between the overcapacity of steel, cement, electrolytic aluminum, flat glass, shipbuilding and other industries, and to guide the resolution of other overcapacity industries, the State Council recently issued a report on the serious overcapacity of defusing capacity. Contradictory Guiding Opinions (hereinafter referred to as "Guiding Opinions").
According to the characteristics of the industry, the "Guidance Opinions" respectively put forward opinions on the industry, steel, cement, electrolytic aluminum, flat glass, ship and other industries, and identified eight major tasks for resolving the contradiction of serious excess capacity: First, construction is strictly prohibited. Capacity projects are classified and properly handled for violations under construction. The second is to comprehensively clean up and rectify the completed illegal production capacity and strengthen regulation and access management. The third is to resolutely eliminate backward production capacity and guide the orderly exit of production capacity. The fourth is to promote mergers and acquisitions of enterprises and optimize the layout of industrial space. The fifth is to strive to develop effective domestic demand and focus on improving the demand structure. The sixth is to consolidate and expand the international market and expand foreign investment cooperation. Seventh is to break through the core key technologies, strengthen enterprise management innovation, and enhance the driving force for enterprise innovation-driven development. Eight is to innovate government management, create a fair environment, improve market mechanisms, and establish a long-term mechanism.
The "Guidance Opinions" require improving the level of marine development equipment, strengthening the construction of marine support capabilities, and fully tapping the domestic demand potential of ship equipment in the fields of shipping, marine engineering, fishery, administrative law enforcement, emergency rescue, etc., and adjusting and optimizing the ship product structure. Increase the credit financial support for export vessels and encourage powerful enterprises to establish overseas sales and service bases. We will improve the R&D and construction capabilities of marine products that meet new international norms, new conventions, and new standards, encourage the transfer of existing shipbuilding capacity to the offshore engineering equipment sector, support the transformation and transformation of SMEs, and increase the proportion of high-end production capacity. Improve industry access standards and implement differentiated policies for shipbuilding companies that do not meet the entry requirements and have not accepted new ship orders for more than one year. Support enterprise mergers and acquisitions to improve industrial concentration.

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