China's Ministry of Industry and Information Technology (MIIT) has officially unveiled a new regulation and standard for offshore platform builders in an effort to tighten control and promote the healthy development of the industry.

The regulation is focused on rig builders' capabilities on technology innovation, quality control and project management.

MIIT has requested each rig builder to have its own design team and annual spend on technology innovation should not be lower than 2 percent of the revenue from main business.

MIIT is also working a white list for domestic rig builders and it has asked relevant companies to send applications voluntarily.