China Shipbuilding Industry Corp plans IPO
By Mao Lijun (China Daily)
Updated: 2007-07-12 09:46
The company is also reportedly developing a large shipyard in Dalian, a port city in Northeast China's Liaoning Province.
As China bids to become the world's largest shipbuilder by 2010, CSIC plans to enlarge its annual shipbuilding capacity to 10 million deadweight tons and generate a total revenue of 120 billion yuan.
The company now claims to have one-third of the nation's shipbuilding capacity and 6 percent of global capacity.
China is already the world's third-largest ship exporter after South Korea and Japan.
Last year South Korea accounted for 35 percent of worldwide output, while Japan produced 25 percent and China accounted for 19 percent.