China to ban foreign ships from river trade
China is reported to be taking steps to further help its domestic shipping companies by banning foreign vessels from sailing on domestic waterways including the Yangtze River, Seatrade Asia online reports.
Reports cited a government website saying overseas investors will also be barred from engaging in river shipping, including through the use of Chinese vessels. The ban, to be initiated from 1 January, however excludes vessels registered in Hong Kong, Macau and Taiwan.
The website added that while shippers can seek exemptions if there is a capacity shortage, companies found to be using overseas vessels on rivers will face penalties including fines of up to RMB1m ($160,000).
The government said the new rules are designed to help promote a “healthy” domestic shipping sector and to ensure safety standards". The Yangtze River is China's busiest waterway, with about 1.5 billion tonnes of cargo shipped along it in 2010, according to local reports.