AFP

China Unveils World’s Largest Shipbuilding Group November 28, 2019

China State Shipbuilding Corporation officially debuted in Beijing on Tuesday, as a result of the merger between China’s two leading shipbuilding companies China Shipbuilding Industry Company (CSIC) and China State Shipbuilding Corporation (CSSC). CSC said that it operates 147 subsidiaries - including shipyards, research institutes, and listed companies. The merger of CSSC and CSIC will create the world’s largest shipbuilding group. Combining the 2018 sales of CSIC and CSSC, the new company's annual revenues are expected to be worth about USD60 billion.
The new group aims to become the main force for researching, designing, manufacturing, testing and safeguarding the supply of China's naval armament, to be the main force of the nation’s shipbuilding industry development and to be the leader of opening up and reform of state-owned companies, to promote high quality development of shipbuilding industry with strong international competitive advantage.

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