Chinese shipping enterprises to get tax breaks for buying distressed ships

China's Ministry of Transport has published a circular encouraging domestic shipping enterprises to buy ships manufactured before March 31, 2009, reports Xinhua.
Affected by the international economic crisis, some shipping enterprises failed to pay for the ships they had ordered from shipbuilding enterprises. Shipping enterprises that buy such ships will enjoy tax breaks. These tax breaks will stay in place until December 31, 2010.

(Source: transport weekly)