China's shipbuilding giant consolidates bases

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 ◆ China's shipbuilding giant consolidates bases

China State Shipbuilding Corporation (CSSC), one of the country's top two shipbuilding giants, is consolidating its domestic branches into five major shipbuilding bases to boost its competitive edge.

Chen Xiaojin, president of the CSSC, said in Beijing recently that China's shipbuilding industry is witnessing a period of fast growth based on increased demand on the shipbuilding market at home and abroad.

The five major bases are the Jiangnan Shipyard Group, Hudong Shipbuilding Group, Waigaoqiao Shipyard in Shanghai, Guangzhou Shipbuilding Company and a combination of shipyards in Shanghai and Jiangyin, he said.

The five bases will develop in a complementary way but with different specialties. The Waigaoqiao Shipyard, which produces large ships, will be further expanded to build large-scale ships and ocean-going vessels.

The Jiangnan Shipyard Group, another huge modern shipbuilding base, will become a development focus. The Hudong Shipbuilding Group will become a strong base for modern cargo and container ships. The combined Shanghai and Jiangyin shipyards will become a big dry dock.

Chen said China's shipbuilding industry is ready to introduce outside money in various channels, including overseas investment. It will also adopt more technology skills and administrative concepts from other countries to keep China's shipbuilding industry at the world's top level.