In 2008, national shipbuilding output reached 28.81 million deadweight tons, an increase of 52.2 percent year-on-year. China’s share of the world market had grown from 22.9 percent in 2007 to 29.5 percent, according to the latest data released by the Ministry of Industry and Information Technology of the PRC on February 2. New shipbuilding orders and shipbuilding orders on hand accounted for 58.18 million deadweight tons and 204.6 million deadweight tons, respectively 37.7 percent and 35.5 percent of the world market.

From January to December 2008, large-scale shipbuilding enterprises nationwide contributed a total of 118.3 billion yuan to raise the value of the whole industry, up by 61.2 percent year-on-year. They also made a total profit of 28.34 billion yuan, up by 50.5 percent year-on-year.

To date, the State Council has already listed the shipbuilding industry as a key industry, as official said. It has also studied and worked out a plan for adjusting and promoting the shipbuilding industry, guiding shipbuilding firms to effectively protect against risks and helping them to maintain a stable and rapid development. These measures have laid a firm foundation for China to become a world shipbuilding power.

By People's Daily Online