China grew into the world’s leading shipbuilder over the last decade as hundreds of private yards opened to compete with state-run companies. Now, the government is poised to regain control as the industry heads for consolidation.
The number of shipyards in China has swollen to 1,647, contributing to a global capacity glut. To stabilize the industry, one third to a half of the yards will probably have to disappear through acquisitions and closings, according to executives and analysts.
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Jasmine Wang & Kyunghee Park, Bloomberg via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/9AVT85-7gFw/
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