Guangdong Reports Boost in Ship Exports

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May 4 – Guangdong province reported an increase of ship exports when it sold 42,000 vessels for the first quarter of the year at an increase of 230 percent.

The total exports were made up of 49.1 percent or US$200 million by foreign-funded companies and the rest worth US$160 million was sold by state-owned enterprises. Foreign-funded companies posted an increase of 14.2 percent compared to last year’s figures while state-owned companies reported a decline of 8.8 percent.

According to the local customs, private businesses posted a growth of 65 percent in ship exports during the same period.

China’s vessel exports were mostly sold to Hong Kong and the member countries of the Association of Southeast Asian Nations. In contrast, sales to the European Union declined by 50.5 percent to US$35.57 million.