Skip to main content

Financing secured for marine industrial park in China

The Agricultural Development Bank of China is providing a credit line of 7 billion yuan, or $1.12 billion, to support the construction of a marine industrial park.

A management committee preparatory group from the Fujian-Taiwan (Fuzhou) Blue Economic Industrial Park and the Fujian provincial branch of the Agricultural Development Bank of China signed a cooperation framework agreement on Thursday, according to China Daily.

Construction began in September. Located in Xinghua Bay, Fuqing city, the marine industrial park will cover 60 square kilometers and be supported by the Jiangjing Overseas-Chinese Farm. It will be positioned as a provincial high-tech industrial park, a leader in the marine economy and a west-Straits marine industry research-and-development transformation base.

China Daily said the cooperation will accelerate investment and financing system innovations and infrastructure construction in the industrial park, ushering in a new era of cooperation among government, banks and enterprises.

Click here for the full report.

Related

1_CONTENDER

Contender Boats Announces New Factory

The fishboat builder said the 100,000-square-foot facility in Fort Pierce, Fla., will concentrate on its smaller models.

1_IBEX.PRESESSION

Soundings Trade Only Announces IBEX Presessions

The Sept. 26 events in Tampa, Fla., include a Women in the Industry Summit, a leadership panel and the Most Innovative Marine Company Awards.

_MG_0177

U.S. Adds 528,000 Jobs in July

The Department of Labor said the manufacturing and leisure-and-hospitality segments contributed to the gains.

1_ONEWATER.EARNSQ3

OneWater Reports Higher Profit, Raises Guidance

The company said revenue, net income, same-store sales and profit margin all improved in its fiscal third quarter.

1_MASS.WORKFORCE

Mass. Approves Marine Workforce Funding

The Massachusetts Marine Trades Association said the state budget includes $150,000 for training and technical education.

1_STERLING.35

Sterling Acceptance Marks 35 Years

Founded in 1987, the oldest privately owned marine loan origination company is expanding in the Great Lakes and in RV financing.

1_YAMAHAOCEARCH

OCEARCH Names Official Outboard Brand

Yamaha will supply the ocean conservation and research organization with F300, F150 and F60 engines.

1_KADEYKROGEN

Krogen, Summit Hire Sales Manager

Jonathan Cooper will run the brands’ new offices in Seattle and develop a sales team for the West Coast market.