China’s shipbuilding industry recorded sound development in the first eight months, with robust growth in output, new orders and holding orders, helping the sector emerge as a formidable force propelling the country’s industrial expansion, said a government official on Wednesday.
Fueled by technological accumulation and industrial upgrading, China saw new orders — a major indicator within the shipbuilding industry — account for 68.8 percent of the global market share during the eight-month period, said the Ministry of Industry and Information Technology.
The ministry said China’s shipbuilding output accounted for 49 percent of the world’s total between January and August, while the sector’s holding orders…
