The Chinese founded the largest shipping company in the world



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The Chinese founded the largest shipping company in the world



China today officially established the shipbuilding company China Shipbuilding Group, which was declared the largest in the world by China-based state television, China Central Television (CCTV).

The founding of the company is based on the merger of two leading Chinese shipbuilders, China State Shipbuilding Corp., last month. and China Shipbuilding Industry Co., Reuters notes.



310,000 workers

China Shipbuilding Group comprises 147 research institutes, business departments and listed companies. It has assets worth a total of 790 billion yuan ($ 112 billion) and employs 310,000 workers, according to CCTV.

The group's activities include the construction of ships of various uses, from specialized oil and gas extraction vessels to aircraft carriers.

China is seeking to downsize the government sector by merging and restructuring its assets to stem debt growth and provide conditions for more profitable business operations and better adapt to market needs.

The main Chinese competitors in shipbuilding are South Korea and Japan.

The Chinese founded the largest shipping company in the world

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