BUSINESS China's two shipbuilding giants plan merger


China's two shipbuilding giants plan merger


20:38, July 02, 2019


(Photo: VCG)

BEIJING, July 2 (Xinhua) -- China's two largest shipbuilders are planning for a merger, according to information disclosed Monday by their listed arms.

China Shipbuilding Industry Corporation and China State Shipbuilding Corporation Limited are planning for a strategic reorganization, according to filings disclosed by the two giants' eight listed subsidiaries.

The plan's details are not decided yet and will be subject to approvals from related authorities, the filings said.

Both companies are centrally administered state-owned enterprises (SOE).

China has stepped up SOE reforms in recent years, encouraging industrial mergers to improve operation efficiency and boost competitiveness.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue