Shipbuilding sector continues its recovery

China's shipbuilding sector experienced a strong momentum in the first three quarters of this year with growth in both completed orders and new orders, according to data released by the China Association of the National Shipbuilding Industry.

Chinese shipyards executed orders amounting to 35.15 million dead weight metric tons in the first nine months, up 41 percent year-on-year, while they received 20.13 million DWT of new ship orders, an 8.7 percent increase from the same period a year earlier, statistics from Beijing-based CANSI show.

Total revenue of China's shipbuilding industry reached 212.5 billion yuan ($32 billion), with net profit totaling 1.1 billion yuan during the January-September period.