Global emerging markets crucial for survival of shipping firms

SHANGHAI - As the world's advanced economies continue to show signs of contraction, China Shipping (Group) Co (CSG), a State-owned shipping conglomerate, has decided to navigate into the emerging markets to offset thinning orders and seek even larger earnings.

The European and US markets are running into economic difficulties, and so more efforts should be made to explore the emerging markets in Africa and South America, said Li Shaode, chairman of CSG.

During the nation's recently concluded Central Economic Work Conference, China's policy makers urged domestic businesses to upgrade and diversify their export structures to maintain robust export growth.