China shipbuilding industry achieved remarkable growth since 1979 when China adopted the open-the-door policy. However, the boom of shipbuilding in the middle of first decade of the 21st century also left several challenges for China shipbuilding industry, such as irrational expansion, lack of own design capability, low-end domestic equipment supply, etc. In addition, the worldwide financial crisis and low oil price had caused current depressed world maritime industry, which hit the China Shipbuilding Industry heavily and placed huge challenges to Chinese shipyards, such as fall of the order book against over capacity, drop of ship price due to over tonnage, pressure of financial resources due to tightening cash flow, and etc. In the following paragraphs, the development as well as current depressed situation of China shipbuilding industry will be discussed, the difficulties and challenges and their root causes will be analyzed.
展开▼
