State-owned shipbuilders' merger, reorganization reviewed

The domestic and foreign anti-monopoly reviews of the reorganization of two erstwhile State-owned shipbuilders-China State Shipbuilding Corp and China Shipbuilding Industry Corp - has been fully completed, said a senior executive from China State Shipbuilding Corp Ltd.

China Shipbuilding Industry Corp itself is the merged entity of these two giant shipbuilding groups, which came together in late 2019 to boost China's shipbuilding industry.

Addressing a meeting held by the State-owned Assets Supervision and Administration Commission of the State Council in Beijing, Qian Jianping, China Shipbuilding Industry Corp's vice-president, said the reorganization works of the two Beijing-headquartered groups has entered the stage of substantive operation, and China Shipbuilding Industry Corp will move its headquarters to Shanghai.

Since the merger, the new group has already implemented organizational reform for its headquarters, regionalized integration and physical reform of regional branches, established a management center for major projects, a research center for future growth and planning, and an equipment support center in key cities, Qian said.

Supported by all these resources, he said the company will focus on developing luxury cruise ships, deep-sea fish farms and solutions, liquefied natural gas or LNG carriers, and other high value-added civilian vessels to stay competitive during China's 14th Five-Year Plan period (2021-25).