中国的新兴国有船东

Stimulating more state investment

金融危机后,国有船东占据的新船订单量出现下降。在2008年金融危机肆虐全球时,中国政府推出的大规模经济刺激计划为中国的国有企业带来了益处。这是因为该刺激计划主要集中在基础设施包括认为对中国的经济具有战略意义的基础性行业,其实质也是对公共领域的直接投资。

This month's China Commentary examines whether Chinese state-owned companies' share of contracting has risen post-August 2008,compared to the pre-crisis period of January 2006 to August 2008.Private shipping companies also ordered just 5.5m dwt of vessels post-August 2008.Despite the state share of contracting having fallen to 65%,state-owned enterprises(SOEs) with no prior long term track record as ship-owners actually ordered an increased volume of tonnage post-August 2008.Many of these companies were helped to contract new vessels by the stimulus and by the implementation of a 17% subsidy on shipbuilding prices for domestic Chinese owners.The government's desire to see banks lend to prospective shipowners has also helped a few funds with a history in aircraft leasing to move into shipping.Overall,private owners have taken a larger share of contracting post-August 2008,having ordered 35% of tonnage compared to 21% in the previous period.However,it would be presumptuous to claim that the state-owned firms share of contracting will continue to fall significantly.The state capitalist and resource heavy nature of the Chinese economy means that state-owned firms will continue to play a key role in the Chinese economy and will require large volumes of tonnage in future years.