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China Shipbuilding Sector Set to Contract, Yangzijiang Says
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Yangzijiang Shipbuilding Holdings Ltd., China’s biggest privately owned shipyard, expects the country’s shipbuilding industry to shrink significantly in the next three years, reversing almost a decade of boom.
In three years time, there may be only 30 “active” shipyards in China, from more than 100 now, Chairman Ren Yuanlin said Thursday in a news briefing in Singapore, where the company’s stock is traded.