CSIC Chuandong Shipyard in Miaoyin'an, Chongqing

The China Shipbuilding Industry Corporation (CSIC) was one of the two largest shipbuilding conglomerates in

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slig ...

, the other was the China State Shipbuilding Corporation (CSSC). It was formed by the

Government of the People's Republic of China The Government of the People's Republic of China () is an authoritarian political system in the People's Republic of China under the exclusive political leadership of the Chinese Communist Party (CCP). It consists of legislative, executive, mili ...

on 1 July 1999 from companies spun off from CSSC, and is 100% owned by

State-owned Assets Supervision and Administration Commission The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the People's Republic of China, directly under the State Council. It was founded in 2003 through the consolidation of vario ...

(SASAC) of State Council. Headquartered in

Beijing } Beijing ( ; ; ), Chinese postal romanization, alternatively romanized as Peking ( ), is the Capital city, capital of the China, People's Republic of China. It is the center of power and development of the country. Beijing is the world's Li ...

, the CSIC handles shipbuilding activities in the north and the west of China, while the China State Shipbuilding Corporation (CSSC) deals with those in the east and the south of the country. CSIC's

subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a ...

, China Shipbuilding Industry Company Limited (CSICL), was listed on the

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Excha ...

in 2008. Its trade arm is China Shipbuilding & Offshore International Co. Ltd (CSOC). CSIC has developed 10 main product sections: shipbuilding, marine engineering, diesel engines, storage batteries, large steel structure fabrications, port machinery, turbochargers, tobacco machinery, gas meters and automation distribution systems. The main business scope of CSIC includes management of all the state owned assets of the corporation and its subsidiaries, domestic and overseas investment and financing, undertaking scientific research and production of military products, mainly of warships, design, production and repair of domestic and overseas civil vessels, marine equipment and other non-ship products, various forms of economic and technological co-operation, overseas turnkey project contracting, labour export, projects of production with foreign materials, engineering project contracting, engineering construction, building construction and installation, and other business authorized.

History

CSIC consists of 96 enterprises located in northern China, and employs over 300,000 people. Assets include shipbuilding and industrial enterprises in

Dalian Dalian () is a major sub-provincial port city in Liaoning province, People's Republic of China, and is Liaoning's second largest city (after the provincial capital Shenyang) and the third-most populous city of Northeast China. Located on ...

( Dalian Shipbuilding Industry Company),

Tianjin Tianjin (; ; Mandarin: ), alternately romanized as Tientsin (), is a municipality and a coastal metropolis in Northern China on the shore of the Bohai Sea. It is one of the nine national central cities in Mainland China, with a total popu ...

Qingdao Qingdao (, also spelled Tsingtao; , Mandarin: ) is a major city in eastern Shandong Province. The city's name in Chinese characters literally means " azure island". Located on China's Yellow Sea coast, it is a major nodal city of the One Belt ...

Wuhan Wuhan (, ; ; ) is the capital of Hubei Province in the People's Republic of China. It is the largest city in Hubei and the most populous city in Central China, with a population of over eleven million, the ninth-most populous Chinese city a ...

Xi'an Xi'an ( , ; ; Chinese: ), frequently spelled as Xian and also known by other names, is the capital of Shaanxi Province. A sub-provincial city on the Guanzhong Plain, the city is the third most populous city in Western China, after Chongqi ...

Chongqing Chongqing ( or ; ; Sichuanese pronunciation: , Standard Mandarin pronunciation: ), alternately romanized as Chungking (), is a municipality in Southwest China. The official abbreviation of the city, "" (), was approved by the State Co ...

and

Kunming Kunming (; ), also known as Yunnan-Fu, is the capital and largest city of Yunnan province, China. It is the political, economic, communications and cultural centre of the province as well as the seat of the provincial government. The headquar ...

, as well as 30 research institutes and ten laboratories developing naval and civil vessels and related equipment. China State Shipbuilding Corporation (CSSC) carried out fundamental institutional restructuring. Ship building and repair enterprises and related equipment manufacturers formerly owned by CSSC in areas of Dalian, Tianjin, Wuhan, Kunming and Xi’an, together with majority of the institutes under China Ship Research & Development Academy, formed China Shipbuilding Industry Corporation (CSIC), which was founded on 1 July 1999 in Beijing. This was part of the overall State Council initiative of 1 July 1999, under which the Chinese government split the top five Defense and Technology Corporations into ten new enterprises. These corporations are all large

State-owned enterprise A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governmen ...

s (SOEs) under direct supervision of the State Council. These SOEs include the China State Shipbuilding Corporation (CSSC) and the China Shipbuilding Industry Corporation (CSIC).

Merger with China State Shipbuilding Corporation

On 26 November 2019, the shipbuilding conglomerate merged with China State Shipbuilding Corporation again to form new China State Shipbuilding Corporation. The new entity was the world's largest shipbuilder with 20% global market share and billion in assets. The main factor behind the merger between the two shipbuilding behemoths is corruption within CSIC's structure.

U.S. sanctions

In November 2020,

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of P ...

issued an

executive order In the United States, an executive order is a directive by the president of the United States that manages operations of the federal government. The legal or constitutional basis for executive orders has multiple sources. Article Two of t ...

prohibiting any American company or individual from owning shares in companies that the

United States Department of Defense The United States Department of Defense (DoD, USDOD or DOD) is an executive branch department of the federal government charged with coordinating and supervising all agencies and functions of the government directly related to national sec ...

has listed as having links to the

People's Liberation Army The People's Liberation Army (PLA) is the principal military force of the China, People's Republic of China and the armed wing of the Chinese Communist Party (CCP). The PLA consists of five Military branch, service branches: the People's ...

, which included CSIC. In December 2020, the

United States Department of Commerce The United States Department of Commerce is an executive department of the U.S. federal government concerned with creating the conditions for economic growth and opportunity. Among its tasks are gathering economic and demographic data for bus ...

added 25 research institutes affiliated with CSIC to the

Bureau of Industry and Security The Bureau of Industry and Security (BIS) is an agency of the United States Department of Commerce that deals with issues involving national security and high technology. A principal goal for the bureau is helping stop the proliferation of weapo ...

Entity List The Entity List is a trade restriction list published by the United States Department of Commerce's Bureau of Industry and Security (BIS), consisting of certain foreign persons, entities, or governments. Entities on the Entity List are subject to ...

due to their role in

territorial disputes in the South China Sea Territorial disputes in the South China Sea involve conflicting island and maritime claims in the region by several sovereign states, namely Brunei, the People's Republic of China (PRC), Taiwan (Republic of China/ROC), Indonesia, Malaysia, P ...

References

External links

* {{authority control Manufacturing companies established in 1999 Water transport in China Government-owned companies of China Shipbuilding companies of China Manufacturing companies based in Beijing Renewable energy Chinese companies established in 1999 Chinese brands Defence companies of the People's Republic of China

History

Merger with China State Shipbuilding Corporation

U.S. sanctions

See also

References

External links