China's shipbuilding industry retains top spot globally for 15 consecutive years

China

China's shipbuilding industry retains top spot globally for 15 consecutive years

2025-01-16 10:22 Last Updated At：20:57

China's shipbuilding sector retained the top spot in the world in terms of completed shipbuilding volume, new orders and orders on hand in 2024, ranking first globally for 15 consecutive years, industry data showed on Thursday.

In 2024, China's shipbuilding completion volume, new orders, and orders on hand accounted for 55.7 percent, 74.1 percent, and 63.1 percent of the world's total, according to data released by the Ministry of Industry and Information Technology.

Notably, both new orders and orders on hand reached record levels in China's shipbuilding history.

"In 2024, we achieved remarkable results, both in market orders and production management. This demonstrates the strong foundation of China's shipbuilding industry and our collaborative efforts with top global suppliers. It is a collective progress. Therefore, China's shipbuilding industry belongs not only to China but also to the world," said Li Yanqing, secretary general of the China Association of the National Shipbuilding Industry.

The latest figures also show a 13.8-percent increase in completed shipbuilding volume, a 58.8-percent surge in new orders and a 49.7-percent rise in orders on hand year on year in 2024.

Among the 18 major ship types globally, China leads the world in new orders for 14 of them.

Domestic shipyards have exceeded their annual business targets, reflecting a spike in market demand.

"China's overall shipbuilding orders on hand can sustain nearly four years of work, which marks a critical step towards steady development of the sector going forward. Our forecasting models based on annual seaborne trade volume growth suggest that global demand for new ships is between 25 million and 50 million deadweight tonnes, with an overall upward trend," said Li.

Top political advisor meets Chinese Buddhist delegates

China's top political advisor Wang Huning has met with delegates attending a national congress of the Buddhist Association of China from Sunday to Monday in Beijing.

Wang, a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee and chairman of the Chinese People's Political Consultative Conference National Committee, stressed the importance of implementing the Party's basic policy on religious affairs and guiding Buddhist figures and believers to contribute to the country's modernization drive.

Wang urged the association to exercise full and rigorous governance over the religion, intensify efforts to raise awareness of the rule of law, and guide monastics to abide by the law, uphold monastic rules and precepts, and maintain the right faith and conduct.

He encouraged the association to cultivate talent proficient in both the canonical teachings and fine traditional Chinese culture, and to expand exchanges with the wider world on Buddhism.

At its 11th national congress, the association adopted a revised charter and a set of religious rules and regulations, and elected a new leadership for the association.