Ministry of Industry and Information Technology of the People's Republic of China (MIIT) revealed that its mid- and long-term development plan for offshore facility building is just ahead of completion and to be announced in public by the end of this year.
A 10-year development plan for offshore facility industry is scheduled to proceed with 12th and 13th five-year development plans from 2011 to 2020.
The plan has already collected opinions of oil company, yards and Chinese government and now is under mediation with '12th five-year development for emerging industry.'
China's offshore-facility building industry has a market size of about CNY 30bn ($4.6bn), 7% of overall global market. There are yards for offshore facility building in several places, however, subsea facility related industry has no outstanding outcome yet.
The offshore facility industry development plan is to secure and develop subsea-related technology, floating oil/gas facility, floating wind-power facility, desalination, and others.