Surge In Orders, Output Reported By Chinese Yards
Showing a sharp increase over the 600,000-dwt average in the previous three years, China State Shipbuilding Corp. reported that it produced 800,000-dwt of ships last year. Last year, export orders were worth $528 million, the company said. The state-owned Chinese shipbuilder had forecast earnings of $300 million from exports in 1991, up from $100 million the year before. The company said total foreign and domestic orders in 1991 amounted to 1.65 million dwt, about evenly split between the first and second halves of the year.
General manager of China State Shipbuilding Shang Shou said the industry will adopt a two-stage approach to growth.
From now to 1995 (the "foundation- laying" period), the target is annual output of 1.4 million dwt. Half of t h a t is meant to be for export, bringing in $500 million a year. Through the "development period" (the year 2000), yards will improve manufacturing and repair capacity, produce more raw materials and equipment domestically, and improve research and design.