Chinese yards struggle to build profits

摘要

In 2014, with the global economic recovery losing steam and the Chinese economy feeling increased downward pressure and excessive production capacity troubling shipbuilders, the shipbuilding industry in China, at the guidance of government policies and market coercion, hastened adjustment and transformation. Shipbuilders managed to overcome difficulties such as waning orderbooks, excessive capacity and a marine engineering equipment business exposed to higher risks. The industry made firm strides in structural adjustments and helped strengthen China's standing as a major shipbuilding nation in the world.