Shipbuilding in China

Shipyard workers build ships at Le Tianxi Shipbuilding Base in Xiling Gorge of the Yangtze River in Yichang, Hubei Province, China, June 28, 2023. On June 26, 2023, the China Shipbuilding Industry Association disclosed the economic operation of the shipbuilding industry from January to May 2023. The data show that China's shipbuilding industry has maintained a good development trend, and the three major shipbuilding indicators of shipbuilding completion, new ship orders and hand-held ship orders have achieved growth. As of the end of May 2023, China held ship orders of 11.799 million deadweight tons, an increase of 15.5% year-on-year, a record high in the past seven years. In the first five months of 2023, China's shipbuilding completions, new orders and hand-held orders accounted for 48.1%, 67.3% and 51.6% of the global market share, respectively, maintaining the world's first. By 2022, the market share of China's shipbuilding industry has ranked first in the world for 13 consecutive years.