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    China sets new record in shipbuilding in 2003

    Yard News // January 9, 2004
    The Xinhua news agency says China's shipbuilding sector built an estimated six million DWT of ships in 2003, a record high and up 46 per cent year-on-year.

    Zhang Guangqin, deputy director of China's Commission of Science, Technology and Industry for National Defense, which oversees the shipbuilding sector, said the figure represented about a 10 per cent share of the world market.

    The new ships Chinese shipyards built last year accounted for 18 per cent of the world's total in terms of tonnage, as against 13 per cent in the previous year, while new orders it clenched in 2003 totaled 18 million tons, up 173 per cent, the official said.

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