On November 26, China State Shipbuilding Corporation Limited, the company formed by the merger two state-owned shipbuilders, China State Shipbuilding Co (CSSC) and China Shipbuilding Industry Co (CSIC), held its inaugural meeting and unveiling ceremony in Beijing. Accordingly, 20 years after the two separate companies were formed, they have finally been joined together again.
China State Shipbuilding Corporation has total assets worth RMB 790.0 billion ($112.0 billion), with 310,000 workers, and is now the world’s largest shipbuilder.
CSIC and CSSC were one conglomerate until 1999 when they were split in two with the Yangtze River serving as a geographic divider, with CSIC in charge of northern shipyards and CSSC taking yards south of the river.