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China's ship industry's gross output up 22.2% in 2011

Wednesday, 08 February 2012 | 00:00
The gross industrial output of ship enterprises in China jumped 22.2% year on year to RMB 777.5 billion in 2011, according to the latest statistics released by the National Development and Reform Commission.
The growth rate was 3.0 percentage points lower than that in 2010.
The output of completed ships climbed 16.9% year on year to a record 76.65 million deadweight tons last year. However, the industry's new orders, which had a 52.2% share in the world, plunged 51.9% to 36.22 million deadweight tons during the period, due to the weak shipping market.
As of the end of December last year, the industry's outstanding ship orders had fallen 23.5% year on year to 149.91 million deadweight tons.
In the first 11 months of 2011, the ship industry's gross profit rose 25.5% year on year to RMB 48.1 billion, and its operating revenue jumped 24.9% year on year to RMB 622.1 billion.
Source: China Knowledge
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