A highlight of the new preferential policies is that Hong Kong and Macao shipping-industry investors will now be able to establish sole proprietorships in the trade zone, said Liu Xiaohua, deputy director of the provincial bureau of transport.
According to current pilot policies released by the Ministry of Transport, foreign investors are already allowed to establish sole proprietorships for shipping operations in Shanghai free trade zone, while Hong Kong and Macao investors are only granted preferential treatment in the Guangdong zone.
Overseas shipping-industry investors in the Tianjin and Fujian free trade zones do not have any such benefits, but the 49-percent cap on foreign ownership of joint ventures has been removed in all four zones.