A major Africa-focused Chinese trading and construction company has branched into fisheries in Angola.
The head office of Qingdao You Xing Group subsidiary Shi Hao Fishing Co, also known as Seahawk Pescas, was visited recently by Angolan Fisheries Minister Maria Antonieta Baptista. The minister met company executives to discuss expansion plans at Seahawk Pescas’ base in Lobitos city in the Benguela Province of Angola.
During… Read More
The pressure is on this month as negotiators seek to find common ground and to advance the cause of a World Trade Organization agreement on fishery subsidies by the end of the year.
The WTO Director-General Roberto Azevêdo has said subsidies by member states for fuel have contributed to overfishing, and illegal and unregulated fishing. He called it "one of the important issues of our time.”
An estimated USD 20 billion… Read More
China’s seafood processing and distribution businesses could be in for a lift next week when a new value added tax (VAT) reduction kicks in. As part of a CNY 2 trillion (USD 297.3 billion, EUR 264.2 billion) tax cut stimulus package, China’s government is cutting the VAT rate for processing companies from 16 percent to 13 percent, effective 1 April.
Meanwhile, there’s been a cut in VAT taxes on sales of seafood products… Read More
Offshore aquaculture installations have become increasingly popular in China as coastal regions shift fish farms out of environmentally challenged on-land sites. But the offshore platforms are also proving popular in one city for another economic driver – tourism.
Tourists visiting aquaculture farms off the coast of Rongcheng in Shandong Province pay to take boat being out to distinctive yellow platforms where fish are being raised in… Read More
China’s stock markets are going through a bull run, but seafood firms haven’t been invited to the party.
Revenues at tilapia farming firm Baiyang Industrial Investment Group rose by 32.3 percent in 2018 to CNY 3.16 billion (USD 470.4 million, EUR 416.2 million) in 2018, while its profits slipped 59.5 percent. Profits attributable to shareholders fell by 72.7 percent. That’s resulted in investors shunning the… Read More
The Wugong Mountain Grouper has been listed on China’s Geographical Indicator list, making the use of that name protected and limited to producers in the Wugong region.
The list is designed to elevate food products with particular characteristics considered unique to China. With the move, China is boosting a niche rural fishery, as the GI list is highly valued by seafood producers in China seeking to cash in on rising incomes and… Read More
A proliferation of fishing vessels operating in Chinese waters is interfering with the country’s international telecommunications infrastructure, according to a representative of China’s largest telecoms company.
Trawlers have ruptured or disrupted undersea cables in the East China Sea and the South China Sea Chen Yingyu, a senior official at China Telecom, said at the annual National People’s Congress, where executives… Read More
China is the world’s most populous nation, and the hungriest for seafood. It’s a dynamic, multifaceted, rapidly-evolving market. SeafoodSource Contributing Editor Mark Godfrey has put together a list of the top 10 biggest issues facing China’s seafood industry in 2019. Godfrey has covered the seafood sector in Asia, with a focus on China, for SeafoodSource for more than a… Read More
The developer of a giant seafood logistics hub in central China has opened its first store as it seeks to take a bigger share of the margins from sales of imported product.
The Nian Nian You Yu Group opened a 1,400 square-meter, multi-level store in the prosperous east coast city of Hangzhou. The company – which plans to open 39 stores in provincial capitals as well as a further 60 in second tier cities – is a subsidiary of the deep… Read More
With an eye to the impacts of climate change, one of China’s leading seafood producing regions is offering lucrative subsidies to firms to kick-start innovation in water monitoring systems for the aquaculture sector.
Fujian provincial Ocean and Fisheries Bureau (part of the local government) is offering CNY 5 million (USD 743,385, EUR 661,581) per project to companies who will help construct a province-wide real time online monitoring… Read More