China: World’s Largest Shipbuilder Established

china

China has officially unveiled China Shipbuilding Corporation, which was described by the country’s officials as “the world’s largest shipbuilding group”.

The inaugural meeting of the newly created company was held in Beijing on November 26, 2019, China State Shipbuilding Corporation (CSSC) said in a statement.

The new group has been created by the merger of the two largest state-owned shipbuilders by production capacity, China Shipbuilding Industry Corp (CSIC) and CSSC.

The group’s establishment follows the approval granted by the Chinese state asset regulator last month.

On the occasion, Hao Peng, Chairman of the State-owned Assets Supervision and Administration Commission (SASAC), pointed out that the creation of China Shipbuilding Corporation is a way to enhance the competitiveness of the domestic shipbuilding industry, promote the development of the national defense technology industry and reform state-owned enterprises.

As informed, the new shipbuilder has 147 research institutes, business units and listed companies, with total assets of CNY 790 billion (USD 112.2 billion) and about 310,000 employees.

World Maritime News Staff; Image Courtesy: CSSC

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >