China's two largest shipbuilders plan to merge

China State Shipbuilding Co., Ltd. (CSSC) officially announced on July 1st, 2019 that it is planning a strategic restructuring with China Shipbuilding Industry Corporation Co., Ltd.(CSIC) and the relevant plans still need to be approved by authorities.

 

CSSC

China State Shipbuilding Corporation（CSSC）is an extra-large conglomerate and stateauthorized investment institution directly administered by the central government of China. It boasts its being the mainstay of the shipbuilding industry in China. Under its wing, there are totally 60 sole proprietorship enterprises and shareholding institutions, including a batch of most powerful and some renowned shipbuilding and shiprepairing yards, research and design institutes, marinerelated equipment manufacturers and trading firms in China. Its products cover from conventional ships, such as bulk carriers, oiltankers and containerships to high-tech, high value-added ships, such as LNG carriers, and offshore facilities.

 

CSIC

China Shipbuilding Industry Corporation ( CSIC ), established on 1st July1999, consisting of some of the enterprises and institutes of former China State Shipbuilding Corporation (old CSSC), is a very large state-owned enterprise, an entity with state authorization for investment and capital management, directly under the supervision of Chinese central government. 

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