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Bidding of Usufruct of Offshore Space on Trial in China
A businessman in Haiyang City of East China's Shandong Province has won the bid, with 300,000 yuan (about US$36,230), for the use of 2,000-mu (about 133.4 hectares) of offshore space for ten years.
This is the first case of public bidding of the use of offshore space in China, sources from the State Oceanic Administration revealed.
The bidding is in line with the provincial regulation for administration of offshore areas, which stipulates that upon the approval of relevant oceanic administrations, public bidding of the use of offshore space should be adopted when two or more applicants apply for the use of a certain offshore area.
To reform the long-existing disorderly exploitation of offshore areas, China has promoted a licensing system and a user-pay system in administering offshore areas.
The bidding, as the first trial in China, has been effective and successful, sources said.
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