 | |
Native name | 中国船舶集团有限公司 |
|---|---|
| Company type | State-owned enterprise |
| Industry | Shipbuilding,defense |
| Founded | May 4, 1982; 43 years ago (1982-05-04) |
| Headquarters | , |
Area served | Worldwide |
Key people | Zhang Yingdai (Chairman) |
| Revenue | US$ 48.9 billion (2023)[1] |
| US$ 2.4 billion (2023)[1] | |
| Total assets | US$ 143.7 billion (2023)[1] |
Number of employees | 196,309 (2023)[1] |
| Website | www |
| China State Shipbuilding Corporation | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国船舶工业总公司 | ||||||
| Traditional Chinese | 中國船舶工業總公司 | ||||||
| |||||||
| Alternative Chinese name | |||||||
| Simplified Chinese | 中船总公司 | ||||||
| Traditional Chinese | 中船总公司 | ||||||
| |||||||
| |
| Company type | Subsidiary |
|---|---|
| CSI A100 | |
| Industry | Shipbuilding |
| Founded | 1998 |
| Headquarters | , |
Area served | Worldwide |
Key people | Dong Qiang (董强) (Chairman) |
| Parent | China State Shipbuilding Corporation |
| Website | China CSSC Holdings Limited |
| China State Shipbuilding Corporation Limited | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国船舶工业集团有限公司 | ||||||
| Traditional Chinese | 中國船舶工業集團有限公司 | ||||||
| |||||||
| Alternative Chinese name | |||||||
| Simplified Chinese | 中船工业 | ||||||
| Traditional Chinese | 中船工業 | ||||||
| |||||||
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TheChina State Shipbuilding Corporation (CSSC) is astate-ownedshipbuildingconglomerate of thePeople's Republic of China (PRC).
CSSC is one of the top 10defence groups in the PRC.[2] It consists of variousshipyards,equipmentmanufacturers, research institutes and shipbuilding-related companies that build bothcivilian andmilitary ships. It owns some of the most well known shipbuilders in China, such asDalian Shipbuilding Industry Company,Jiangnan Shipyard,Hudong–Zhonghua Shipbuilding,Guangzhou Huangpu Shipbuilding[3] andGuangzhou Wenchong Shipyard.[4] Itssubsidiary,China CSSC Holdings Limited (SSE:600150), is listed on theShanghai Stock Exchange, and in turn owns other subsidiaries includingShanghai Waigaoqiao Shipbuilding.[5] As of 2024, CSSC builds a third of all ships in the world, making it the world's biggest shipbuilding conglomerate.[6][7] All CSSC ships are built tomilitary specifications, according toChinese government doctrine.[6]
In 1964, theSixth Ministry of Machine Building was created[8] to oversee China's shipbuilding enterprises, which were predominantly engaged in military work.[9] In July 1982,[10] as part of defence industry reforms and "defence conversions", the ministry was converted into the China State Shipbuilding Corporation.[9] CSSC remained under state control but was permitted to operate with "a degree of market-based economic autonomy".[11] CSSC shifted the industry's focus to commercial work; by 1992, 80% of output was to the civilian sector,[10] and in 1993, half of the commercial output was for export.[12]
In the late 1990s,economic reforms broke up state-ownedmonopolies and introduced "a limited amount offree-marketcompetition" to improve the efficiency of defence industries.[13][14] In July 1999, theChina Shipbuilding Industry Corporation (CSIC) was spun off from CSSC.[14] The shipbuilding industry was divided roughly along geographical lines: CSSC retained assets in the east and south,[15] and CSIC gained control in the northeast and inland.[16] Both reported to theState-owned Assets Supervision and Administration Commission (SASAC).[17] CSSC emerged as the smaller entity.[15][18] Enterprises not affiliated with either conglomerate included shipyards owned by thePeople's Liberation Army (PLA),provinces,municipalities, foreign joint ventures, and Chinese shipping companies.[17][19]
Preparations for merging CSIC and CSSC date back to at least 2010, whenHu Wenming became CSSC's party secretary, in anticipation of an industry decline.[20] Hu was a strong supporter of the merger; he was CSSC chairman from 2012 to 2015, and then CSIC chairman from March 2015 until his retirement in August 2019 because ofcorruption.[21] The decision to merge the conglomerates may have influenced not only by aslowing economy,[22] but also the discovery of widespread corruption in CSIC and Hu's involvement in it.[21][22][23]
The CSIC and CSSC merger was approved by SASAC in October 2019,[24][25] and occurred in November 2019; the combined entity took the CSSC name. The reorganization was complete by September 2020. The new entity was the world's largest shipbuilder with 20% global market share andUS$110 billion in assets.[22]
In August 2025, CSSC announced it planned to absorb CSIC and take over as the sole listing on theShanghai Stock Exchange. The two companies accounted for nearly 17% of new orders in 2024 and the merged company had ~$18B in sales.[26]
CSSC and CSIC together account for around 21 percent of global production capacity.With this merger of the two state-controlled shipyards,Xi Jinpings government hopes to achieve efficiency gains and greater resilience to the turmoil in the industry triggered byUS President Trump, writes the Wall Street Journal.[26] Trump wants to revive the U.S.shipbuilding industry after decades of decline. In 2024, China's market share was 53 % and the U.S. market share 0.1 %.[27]
In November 2020,American entities were prohibited byU.S. PresidentialExecutive Order13959 from owning shares in companies—including CSSC—linked to the PLA by theUnited States Department of Defense.[28][29][30]
