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Native name | 中国船舶重工股份有限公司 |
|---|---|
| Company type | State owned company |
| Industry | Shipbuilding,defense |
| Predecessor | China State Shipbuilding Corporation |
| Founded | 1 July 1999; 26 years ago (1999-07-01) |
| Fate | Merged withChina State Shipbuilding Corporation |
| Successor | China State Shipbuilding Corporation Limited |
| Headquarters | , |
Area served | Worldwide |
Key people | Hu Wenming (胡问鸣) (Chairman) |
| Products | Ships, submarines, diesel engines, storage batteries, large steel structure fabrications, port machinery, turbochargers, tobacco machinery, gas meters and automation distribution systems |
| Parent | SASAC |
| Website | www.csic.com.cn |
| China Shipbuilding Industry Corporation | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国船舶重工股份有限公司 | ||||||
| Traditional Chinese | 中國船舶重工股份有限公司 | ||||||
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| Abbreviation | |||||||
| Chinese | 中船重工 | ||||||
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| SSE:601989 CSI 300 | |
| Industry | Shipbuilding |
| Headquarters | , China |
Area served | Worldwide |
| Website | csicl.com.cn |
TheChina Shipbuilding Industry Corporation (CSIC) was one of the two largest shipbuilding conglomerates in thePeople's Republic of China, the other was theChina State Shipbuilding Corporation (CSSC). In 2019, CSIC was merged into CSSC.
CSIC was formed by theGovernment of the People's Republic of China on 1 July 1999 from companies spun off from CSSC, and is 100% owned byState-owned Assets Supervision and Administration Commission (SASAC) of State Council.[1] Headquartered inBeijing, the CSIC handled shipbuilding activities in the north and the west of China, while theChina State Shipbuilding Corporation (CSSC) dealt with those in the east and the south of the country.
CSIC'ssubsidiary,China Shipbuilding Industry Company Limited (CSICL), was listed on theShanghai Stock Exchange in 2008. Its trade arm isChina Shipbuilding & Offshore International Co. Ltd (CSOC).[2]
CSIC developed 10 main product sections: shipbuilding, marine engineering, diesel engines, storage batteries, large steel structure fabrications, port machinery, turbochargers, tobacco machinery, gas meters, and automation distribution systems.
The main business scope of CSIC included management of all state owned assets of the corporation and its subsidiaries, domestic and overseas investment and financing, undertaking scientific research and production of military products,[3] mainly of warships, design, production and repair of domestic and overseas civil vessels, marine equipment and other non-ship products, various forms of economic and technological co-operation, overseas turnkey project contracting, labour export, projects of production with foreign materials, engineering project contracting, engineering construction, building construction and installation, and other business authorized.
CSIC consisted of 96 enterprises located in northern China, and employed over 300,000 people. Assets included shipbuilding and industrial enterprises inDalian (Dalian Shipbuilding Industry Company),Tianjin,Qingdao,Wuhan,Xi'an,Chongqing, andKunming, as well as 30 research institutes and ten laboratories developing naval and civil vessels and related equipment.[citation needed]
China State Shipbuilding Corporation (CSSC) carried out fundamental institutional restructuring. Ship building and repair enterprises and related equipment manufacturers formerly owned by CSSC in areas of Dalian, Tianjin, Wuhan, Kunming and Xi’an, together with majority of the institutes under China Ship Research & Development Academy, formed China Shipbuilding Industry Corporation (CSIC), which was founded on 1 July 1999 in Beijing.[citation needed] This was part of the overallState Council initiative of 1 July 1999, under which the Chinese government split the top five Defense and Technology Corporations into ten new enterprises. These corporations are all largestate-owned enterprises (SOEs) under direct supervision of the State Council. These SOEs include the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC).
On 26 November 2019, the shipbuilding conglomerate merged with China State Shipbuilding Corporation again to form new China State Shipbuilding Corporation. The new entity was the world's largest shipbuilder with 20% global market share andUS$110 billion in assets.[4] The main factor behind the merger between the two shipbuilding behemoths was corruption within CSIC's structure.[5]
In November 2020,Donald Trump issued anexecutive order prohibiting any American company or individual from owning shares in companies that theUnited States Department of Defense has listed as having links to thePeople's Liberation Army, which included CSIC.[6][7][8]
In December 2020, theUnited States Department of Commerce added 25 research institutes affiliated with CSIC to theBureau of Industry and Security'sEntity List due to their role interritorial disputes in the South China Sea.[9]
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