Money from China? Then “Made in China”, shipowners told

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 last year. The government wants Chinese yards to move up the value chain by building higher-quality vessels and to become a player in the offshore energy equipment industry, a lucrative sector in the generally depressed shipbuilding market.

via Business feed http://www.scmp.com/business/banking-finance/article/1248838/money-china-then-made-china-shipowners-told