Recently, the Several Measures of Xiamen Port Authority to Accelerate the Development of Water Transportation Business (the Measures) has been promulgated with an annual subsidy amounting up to 70 million yuan to further fuel the high-quality development of Xiamen's water transportation industry. By granting direct subsidies or financing subsidies to newly added vessels and transport capabilities, the Measures will better play the role of financial support to boost the rapid growth of water transportation turnovers in Xiamen and lead enterprises to continuously improve their transport capability structure and increase market competitiveness. Meanwhile, the Measures is expected to attract more foreign ships and carriers to register in Xiamen, thus expanding the transport capabilities of operating vessels.
