China's shipbuilding businesses posted significant increases in combined profits and revenue last year with improving global competitiveness.
The major shipbuilders' profits surged 131.7 percent year on year to 25.9 billion yuan (3.64 billion U.S. dollars) and their main business revenue stood at 623.7 billion yuan, up 20 percent, according to the China Association of the National Shipbuilding Industry.
Multiple companies were in the global top 10 lists in terms of output, new orders and holding orders, and China State Shipbuilding Corporation ranked the first globally in all major shipbuilding indexes.