China’s shipbuilding industry continues to lead the world market despite COVID-19 disruptions, says an article published in CGTN.
First Six Months
In the first six months of the year, the country’s completed orders, new orders and holding orders in the industry accounted for 45.2 percent, 50.8 percent and 47.8 percent of the international total respectively, according to the Ministry of Industry and Information Technology (MIIT).
Temporary slump
In June alone, the industry shook off the temporary slump of April, with new orders topping 4.76 million deadweight tonnes (dwt), skyrocketing 107 percent compared with May.
In June, orders equal to 4.22 million deadweight tonnes (dwt) were completed, up 64.2 percent from May and the best level in almost two years.
Proved stability
“This is a marvelous achievement. The data showed that there was a solid foundation for the recovering growth we’ve seen since May, and proved the stability of China’s shipbuilding industry in the global supply chain,” said Li Yanqing, the secretary general for the China Association of National Shipbuilding Industry.
Reviving Supply Chain
In March and April, when Shanghai – a major world production center for shipbuilding – went under COVID-19 closed management, the nation’s officials pledged measures to relieve industry supply chain issues.
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Source: CGTN
