China's shipping industry has made significant progress in five aspects in the 2011-2015 period and its market share of marine equipment has topped the world, pushing China to transform from a manufacturing power of quantity to quality, said Huai Jinpeng, vice minister of Industry and Information Technology, at the 2015 All China Maritime Conference & Exhibition here Tuesday.
Huai said the progresses include keeping stable development under shrinking global demand; innovative capacity improved considerably, particularly in the high-tech shipping sector; development of marine equipment speeded up with global market share rising from less than 20 percent in 2010 to 35 percent so far; localization of maritime facilities made new breakthroughs; the industrial concentration increased further with the three shipbuilding bases in Yangtze river delta, Pearl river delta and around Bohai sea region building over 90 percent ships.
Nevertheless, as global shipping market is still in deep recession and the problem of oversupply cannot be eased in the short term, new orders for shipbuilding received by manufacturers in China dropped over 60 percent in the first 10 months of this year and the industry confronted severe risks and challenges.
Under such circumstances, Huai suggested the industry seize the opportunities generated from China's construction of a maritime power and the 'Belt and Road' initiative, make breakthroughs in design and construction technology of luxury cruises and improve the international competitiveness of large LNG ships as well as ultra large container ships.
In the meantime, Chinese government will help guide resources tilt to outstanding enterprises by announcing 'white list' and other institutional means to solve the oversupply problem.
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