Chinese shipbuilding industry sees large growth
China's shipbuilding industry saw new vessel orders surge 49.5 percent year-on-year in the first five months of 2023.
Chinese shipbuilding industry sees large growth
The Economics of Geography

Chinese shipbuilding industry sees large growth

Photo: AFP/YIN LIQIN
Eurasia 01/07/2023 14:00

China's shipbuilding industry saw new vessel orders surge 49.5 percent year-on-year in the first five months of 2023, China Daily reported.

New orders, a major indicator of the shipbuilding industry, stood at 26.45 million deadweight tons (DWT) during the five-month period, with a global market share of 67.3 percent, according to statistics released by Beijing-based China Association of the National Shipbuilding Industry, China Daily noted. 
AFP/LONG WEI

The country's shipbuilding output grew by 15.4 percent on a yearly basis to 16.47 million DWT between January and May, accounting for 48.1 percent of the world's total.

By the end of May, the sector's holding orders totaled 117.99 million DWT, up 15.5 percent year-on-year, claiming 51.6 percent of the world's market share.

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