Beijing moves to reduce yard overcapacity

摘要

In a move that is seen as a direct attempt to redress the yard overcapacity issue in China the Beijing Government has issued a directive, unremarkably labelled Issue 55 from the Ministry of Industry and Information Technology, that will drive some yards out of business say experts. The directive came into force on 1 December last year and is set to impact on the small and medium sized yards disproportionately. The yard insiders said that the Notice will mean that the yards will have to make "serious and strict" upgrades to their facilities in order to meet the requirements of the new rules.