China State Shipbuilding Corporation
The China State Shipbuilding Corporation is the largest shipbuilding conglomerate in the world. Headquartered in Beijing, the CSSC handles mostly shipbuilding activities in China.
CSSC is one of the top 10 defence groups in China, consists of various ship yards, equipment manufacturers, research institutes and shipbuilding related companies, some of the well known shipbuilders in China such as Jiangnan Shipyard and Hudong–Zhonghua Shipbuilding are currently owned by CSSC. Its subsidiary, China CSSC Holdings Limited, is listed on the Shanghai Stock Exchange, and in turn owns other subsidiaries including Shanghai Waigaoqiao Shipbuilding.
On 1 July 1999, some of its companies were spun off by the Government to form a separate conglomerate group, China Shipbuilding Industry Corporation, which hold shipbuilding activities in the north and the west of China and CSSC deals with those in the east and the south of the country.
In the 2019 last quarter, the State-owned Assets Supervision and Administration Commission approved the merge between CSSC and CSIC into a new state enterprise called China Shipbuilding Group Corp. The timeline of the financial operation hasn't been disclosed at the time and it paved the birth of an oligopoly in the world industry with a new player taking the 21% of global sales.
