China's shipbuilding industry, the world's third biggest (19 percent of the global shipbuilding total in 1999), is projecting an annual sales income of 23 billion yuan by 2005 and 35 billion yuan by 2010 in this sector.
The China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC), China's top two shipbuilding companies, have both released their projections for the next five to 10 years.
The CSSC projects an annual output of 2.5 million tons in 2005 and 3.5 to four million tons in 2010, which, according to the company, will make it one of the top three shipbuilders in the world.
The CSIC projects sales revenue of 11 billion yuan and an output of 980,000 tons this year, and expects those figures will double by 2005.
Last year, China's shipbuilding industry received record orders of 8.57 million tons, 80 percent of which came from overseas.
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