China National Fisheries Corporation Explained

The China National Fisheries Corporation (CNFC) is a Chinese state owned enterprise which operates fisheries related businesses.

History

CNFC is the major Chinese operator in the distant water fisheries. It sent the first Chinese fishing fleet to West African waters when it sent thirteen trawlers to Guinea-Bissau in 1985. The fleet was seen off by a crowd of more than 1,000. The expansion into distant water fisheries followed a decline in China's coastal fisheries due to overexploitation.[1] The following year, with other Chinese partners, CNFC started trawling operations in the North Pacific. Tuna longlining followed in the South Pacific, and in 1989, squid longlining in the Japan Sea and the North Pacific.[2] CNFC has been a significant beneficiary of corporate subsidies from the Chinese government.[3]

"China has the world's largest distant-water fishing fleet, catching billions of pounds of seafood annually, the biggest portion of it squid. The fleet is rife with labor trafficking, abusive working conditions, and violence."[4]

In 2016 CNFC had to bail out its listed arm CNFC Overseas Fishery Co. due to poor profitability.[5]

In 2022 CNFC completed a four hundred million CNY fundraising round to recapitalize its tuna fleet.[6]

A 2023 report by the Financial Transparency Coalition noted that five CNFC vessels had been accused of human rights abuses. The third most of any Chinese company.[7] [8]

Facilities

In 2019 CNFC opened a tuna processing plant in Vanuatu.[9] [10]

Vessels

In addition to fishing vessels CNFC operates refrigerated cargo vessels.[11]

Notes and References

  1. Urbina . Ian . THE CRIMES BEHIND THE SEAFOOD YOU EAT . The New Yorker . 9 October 2023 . newyorker.com . 18 November 2023.
  2. [NOAA]
  3. Web site: Godfrey . Mark . CNFC benefits from Chinese government's doubling-down on corporate subsidies . seafoodsource.com . Seafood Source . 17 November 2023 . 27 March 2023 . https://web.archive.org/web/20230327145726/https://www.seafoodsource.com/news/premium/business-finance/cnfc-benefits-from-chinese-government-s-doubling-down-on-corporate-subsidies . live .
    • https://www.newyorker.com/culture/the-new-yorker-documentary/squid-fleet-takes-you-into-the-opaque-world-of-chinese-fishing
    • https://www.youtube.com/watch?v=I4ozyeFZImk
  5. Web site: White . Cliff . China fishery firm gets government cash rescue . seafoodsource.com . Seafood Source . 17 November 2023 . 16 April 2023 . https://web.archive.org/web/20230416051245/https://www.seafoodsource.com/news/supply-trade/china-fishery-firm-gets-government-cash-rescue . live .
  6. Web site: China's CNGC Completes $63m Fundraising . undercurrentnews.com . Undercurrent News . 17 November 2023 . 18 November 2023 . https://web.archive.org/web/20231118003402/https://www.undercurrentnews.com/2022/06/28/chinas-cnfc-completes-63m-fundraising/ . live .
  7. Web site: China leads list of fishing vessel labor abusers . taipeitimes.com . 17 November 2023 . Taipei Times . 17 November 2023 . 18 November 2023 . https://web.archive.org/web/20231118003347/https://www.taipeitimes.com/News/world/archives/2023/11/17/2003809312 . live .
  8. Web site: Goodman . Joshua . China leads list of labor abusers, sometimes akin to slavery, detected on fishing vessels worldwide . apnews.com . 15 November 2023 . The Associated Press . 17 November 2023 . 16 November 2023 . https://web.archive.org/web/20231116024039/https://apnews.com/article/fishing-forced-labor-slavery-337cb7e790bdb3aec43f4781605ba7bd . live .
  9. Web site: China National Fishery Corporation opens Vanuatu tuna factory . intrafish.com . 25 October 2019 . Intrafish . 17 November 2023 . 5 November 2019 . https://web.archive.org/web/20191105024105/https://www.intrafish.com/processor/china-national-fishery-corporation-opens-vanuatu-tuna-factory/2-1-694796 . live .
  10. Web site: Vanuatu Govt launches fish plant with Chinese company . rnz.co.nz . 25 October 2019 . Radio New Zealand . 17 November 2023 . 25 May 2022 . https://web.archive.org/web/20220525004750/https://www.rnz.co.nz/international/pacific-news/401781/vanuatu-govt-launches-fish-plant-with-chinese-company . live .
  11. News: Lee Myers . Steven . Chang . Agnes . Watkins . Derek . Fu . Claire . How China Targets the Global Fish Supply . The New York Times . 26 September 2022 . 17 November 2023 . 8 November 2023 . https://web.archive.org/web/20231108061842/https://www.nytimes.com/interactive/2022/09/26/world/asia/china-fishing-south-america.html . live .

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