China has formally established the world's largest shipyard company.
The news comes weeks after the government sanctioned the mega-merger of state-run shipbuilders China State Shipbuilding Corp (CSSC) and China Shipbuilding Industry Co (CSIC). The new company will continue under the CSSC banner.
China Central Television (CCTV) reported that the group has 147 research institutes, business units and listed firms, as well as total assets of CNY 790bn ($112bn) and 310,000 workers.
