Shipbuilding Industry in Shanghai Reports Growth

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Last updated at: (Beijing Time) Sunday, February 03, 2002

Shipbuilding Industry in Shanghai Reports Growth

The shipbuilding industry of Shanghai, where China's shipbuilding industry originated, reportedrapid development last year with a record high shipbuilding tonnage of 1.81 million tons.

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The shipbuilding industry of Shanghai, where China's shipbuilding industry originated, reportedrapid development last year with a record high shipbuilding tonnage of 1.81 million tons.

A large shipbuilding base, with a total investment of 3.24 billion yuan (about 390 million US dollars), went into construction in November last year in Shanghai and upon completionis expected to provide a working platform for China to catch up with the Republic of Korea and Japan in shipbuilding.

Several outstanding shipbuilding plants also emerged in the city last year, of which the Hudong Zhonghua Shipbuilding Company was the result of a merger between two large ship manufacturers.

The company, with an expected shipbuilding tonnage of one million tons, or more than one fourth of the country's total, in year 2002, is likely to rank among the world's top ten shipbuilding giants.

This year, a number of new ship models with upgraded technologywill be produced. The shipbuilding industry in Shanghai has already sealed contracts for a total tonnage of 2.8 million tons, which has laid a solid foundation for a promising prospect.

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