China to step up shipbuilding

Posted:5/27/2011 11:14:57 AM

The country's shipbuilding industry is large but not strong, and independent innovation and establishing an integrated industrial chain are top priorities, an official told the Global Times Sunday
Although China overtook South Korea and Japan to become the world's largest shipbuilder in terms of shipbuilding capacity, overtaking orders and new orders, the country's high value-added shipbuilding ability is far behind the two countries,
China has been the world's largest shipbuilder since 2010. 
Statistics filed with the Ministry of Industry and Information Technology show from January to December 2010, China's shipyards produced a total volume of 65.6 million deadweight tons, an increase of 54.6 percent from the previous year. And their newly received orders as of the end of last year exceeded 75.23 million deadweight tons, accounting for 54 percent of the world's total production volume.
In the first quarter, South Korean shipbuilders signed new orders for 90 ships with a total worth of $12.8 billion. China received orders for 88 units with a total value of only $3.5 billion, according to the latest data from South Korea's Ministry of Economic Knowledge.
Some automated electronic devices on China-made ships, for instance, are still imported from overseas,After years of development with the advantage of low labor costs, China's shipbuilding industry entered a period requiring more initial investment and intensive management. So, a significant amount of money needs to be invested in R&D during the process, with less consideration for short-term returns
China's shipping industry will experience a structural readjustment during the 12th Five-Year Plan period (2011-2015)