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CSSC achieved great success in the last 5 years

Since CSSC established in July of 1999, it has steadily stridden to success by making continuous effort and accumulating experiences throughout the years. With the main focus on shipbuilding industry, CSSC has gradually formed its own patterns towards multi-business operations, military and civilian applications, and based on the domestic demands of China to be forward-looking to the overseas market. In the last five years, it had completed the gross value of industrial output up to RMB72.98 billion ($8.79 billion), made sales income reached RMB76.28 billion ($9.19 billion) in total, created $5.05 billion foreign founds for the country. Also, CSSC had delivered 629 new ships, totally 7.87 million tons. In addition, only in year 2003, the shipbuilding output of CSSC reached 2.17 million tons, being considered as the 6th shipbuilding group in the world, only one step away from being top five shipbuilding units.
On Dec, 28, 2003, a memorable date for the whole Chinese shipbuilding industry, CSSC announced at Shanghai that Changxing island shipbuilding base, the largest one in the world, began to build. This is not only a significant step striding towards being the largest shipbuilding group of the world, but also awareness to all the strong shipbuilding countries. Few years later, this largest shipbuilding base with the shipbuilding capacity of 8 million tons annually will certainly play a more and more important role on the world stage, which is a dream of several generations of Chinese shipbuilders long in for.
At the same time, CSSC has seized a series of opportunities of cities construction at Chongming island of Shanghai and Longxue island of Guangzhou to make plans for building new modernized shipbuilding bases. Other than these, another marine large power diesel engine base is being built.
Within the last 5 years, adjustment and recombination of subsidiaries of CSSC were also steadily advancing. Three of them, Jiangnan Shipyard, Wenchong Shipyard, and Zhengmao Group, had done the transformation of debt-for-share. Qiuxin shipyard had been merged to Jiangnan; Hudong Shipyard and Zhonghua Shipyard were combined as Hudong-Zhonghua Shipbuilding Co, Ltd.; Shanghai Shipyard and Chengxi Shipyard had recombined in shiprepair.
With the rapid development through the years, the production and business operation of CSSC have been positively changed a lot. In 2003, the gross value of industrial output of CSSC was RMB19.79 billion ($2.38 billion), increased 73.2% compared with 1999, the sales income was RMB20.45 billion ($2.46 billion), up 58.3% compared with 1999; the export created foreign funds $1.21 billion, increased 13.3% correspondingly; the shipbuilding output was 2.17 million tons, twice than the amount in 1999; the percentage of shipbuilding market in the world therefore increased from 2.3% to 4%. In the mean time, CSSC won 8.7 million tons new ship orders in 2003, up 252.5% than in 1999.銆?


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