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China's Shipbuilding Industry Plans More Sales
China's shipbuilding industry expects an annual sales income of 23 billion yuan by 2005 and 35 billion yuan by 2010.
China's top two shipbuilding companies, the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC), have both unveiled their blueprint for the early years of the new century.
The CSSC plans an annual output of 2.5 million tons in 2005 and 3.5 to four million tons in 2010, which will make the company one of the top three shipbuilders in the world.
The CSIC is expected to generate a sales revenue of 11 billion yuan and an output of 980,000 tons this year. Both figures will be doubled by the year 2005, according to the company's plan.
Last year, China's shipbuilding industry received record orders of 8.57 million tons, 80 percent of which came from overseas.
These orders, which accounted for 19 percent of the global total, made China the world's third biggest shipbuilder.
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