China Knowledge quoted according to the latest statistics released by the China Association of the National Shipbuilding Industry, the gross industrial output of the 1,624 large and medium ship enterprises in China saw slower growth of 6.3% YoY to CNY 249.8 billion in the first four months of this year.
The gross output of the ship manufacturing sector climbed only 2.3% YoY to CNY 188.3 billion. The output of completed ships fell 16.8% YoY to 15.65 million deadweight tons in the first four months. The industry new orders plunged 45.9% to 7.37 million deadweight tons during the period due to the weak shipping market.
As of the end of April, the industry outstanding ship orders had decreased 26.1% YoY to 139.24 million deadweight tons up by 7.1%YoY.
The ship industry gross profit fell 7.3% YoY to CNY 8.18 billion while its core business revenue rose 9.4% to CNY 150.7 billion.