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Business related.
On Shanghai's Changxing Island, a massive container ship is being readied for delivery.
As the world leader in the shipbuilding industry, China secured almost 75 percent of new global shipbuilding orders in H1 this year, with container and liquefied natural gas carriers topping the list.
According to the Ministry of Industry and Information Technology, Chinese shipbuilders completed projects totaling 25 million deadweight tons in the first half of the year, a more than 18 percent increase from last year.
New orders were up more than 43 percent, while backlogged orders grew by more than 38 percent.
Data from market research firm Market Research Intellect predicts the market size of China's shipbuilding industry will continue its expansion to top nine billion U.S. dollars by the year 2031.
1:30
China's shipbuilding sector takes over 70 pct of global orders
Sep 10, 2024On Shanghai's Changxing Island, a massive container ship is being readied for delivery.
As the world leader in the shipbuilding industry, China secured almost 75 percent of new global shipbuilding orders in H1 this year, with container and liquefied natural gas carriers topping the list.
According to the Ministry of Industry and Information Technology, Chinese shipbuilders completed projects totaling 25 million deadweight tons in the first half of the year, a more than 18 percent increase from last year.
New orders were up more than 43 percent, while backlogged orders grew by more than 38 percent.
Data from market research firm Market Research Intellect predicts the market size of China's shipbuilding industry will continue its expansion to top nine billion U.S. dollars by the year 2031.
1:30