The China State Shipbuilding Corporation (CSSC) announced that it received 136 new orders valued 16.7 billion yuan (US$2 billion) in the past year. The corporation has also acquired orders for 17 oceangoing ships from domestic clients last year, valued at 4.3 billion yuan (US$0.5 billion).
According to Mr. Chen Xiaojin, president of the CSSC, the company generated an industrial output value of 12.06 billion yuan last year, an increase of 3.9 percent on an annual basis, including 7.5 billion yuan from exports, up 15.4 percent. Total sales income stood at 13.24 billion yuan, up 2.3 percent year on year.
Currently, the CSSC has orders for 188 ships in hand and it will take two to three years to complete and deliver all those ships. As one of the China's top two shipbuilding giants, the CSSC has three major Chinese shipbuilding companies, the Jiangnan Shipyard Group, Hudong Shipbuilding Group and Guangzhou Shipbuilding International, as its members, in addition to a large number of other smaller yards. It employs a total of 95,000 people.