Two of China's leading enterprises - China State Shipbuilding Corporation (CSSC) and the Baosteel Group Corporation (Baosteel) - signed a

contract in Beijing on March 16 to build China's largest and most modern shipbuilding base at Changxing.

The total cost of the project is expected to exceed 10 billion yuan, with CSSC bearing 65 percent of the cost and Baosteel the remaining 35 percent.

By People's Daily Online