President Tan Zuojun of China State Shipbuilding Corporation revealed that although Chinese shipbuilders were putting up a good show at present, there would be yards falling behind in two to three years by lack of high-value technology, during a China's CNTV interview.

He added that about half of overall Chinese yards would be weeded out and 2012 would be the biggest hump.

President Tan said that more M&As would occur in 2013 and 2014 than this year, while shipbuilders going bankrupt before M&A were expected to be larger.

Some of Chinese shipbuilders, having failed to secure market competitiveness, would naturally lead to bankruptcy.

Investment in R&D is a key to development and survival of shipbuilders, he added.