Merger with CSSC won’t create a monopoly, says CSIC chairman
Hu Wenming says the marriage between the two state-owned shipbuilding conglomerates would trim some excess capacity within themselves, during an interview with China Securities Journal. More importantly, though, the proposed tie-up would create a stronger Chinese shipbuilder in the global arena, he adds
Chairman of China Industry Shipbuilding Corp claims the two only account for less than 50% of the country’s total shipbuilding capacity and less than 15% of the global orderbook
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