Money from China? Then "Made in China", shipowners told

Newswire

By Rujun Shen SINGAPORE, May 29 (Reuters) - Chinese banks have sharply increased loans to global shipowners as European lenders retreat from the market but some are driving a hard bargain: the finance often comes with the condition that vessels be built in China. The financing has given China's shipyards a lifeline after new orders dropped to a seven-year low in 2012. The government wants Chinese yards to move up the value chain by building higher-quality ...

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