The China Shipbuilding Industry Corporation (CSIC) is designated very high risk as one of China’s leading defence conglomerate.
CSIC was established as one of China’s primary state-owned defence companies on 1 July 1999.https://web.archive.org/web/20190726041025/http://www.sasac.gov.cn/n2588025/n10248920/c11587758/content.html ; https://web.archive.org/save/http://www.csic.com.cn/jtjj.htm CSIC is the PLA Navy’s largest supplier of weapons platforms,https://web.archive.org/save/http://www.csic.com.cn/en/jycp.htm# ; http://www.csic.com.cn/en/jycp.htm# accounting for nearly 80 per cent of all armaments.https://asia.nikkei.com/Companies/China-Shipbuilding-Industry-Co.-Ltd CSIC’s signature products include conventional and nuclear submarines, warships and torpedoes,https://web.archive.org/web/20190726042214/http://www.csic.com.cn/en/jycp.htm ; https://asia.nikkei.com/Companies/China-Shipbuilding-Industry-Co.-Ltd as well as the Liaoning aircraft carrier program.https://www.janes.com/article/84701/china-s-csic-looks-to-speed-up-restructuring
CSIC maintains a civilian shipbuilding program alongside its program of supplying the PLA Navy. CSIC’s civilian work includes the production of oil and chemical tankers, container ships, bulk carriers and engineering ships.https://www.bloomberg.com/profile/company/CSIZ:CH
On 2 July 2019, it was announced that CSIC and the China State Shipbuilding Corporation would merge. According to Janes Defence Weekly, ‘the two groups, which have combined assets of about USD120 billion and employ 240,000 people, dominate naval shipbuilding in China and between them operate 160 subsidiaries.’https://www.janes.com/article/89643/chinese-shipbuilders-announce-huge-merger Nikkei has listed some of CSIC’s main subsidiaries here.
Economic espionage and misconduct
Sun Bo, former head of CSIC who oversaw the Liaoning aircraft carrier program, has been implicated in Xi Jinping’s anti-corruption campaign for his alleged involvement in bribery.https://www.scmp.com/news/china/policies-politics/article/2151173/man-behind-chinas-new-aircraft-carrier-detained It has also been alleged that Sun was passing classified information on the Liaoning program to a foreign country.https://www.scmp.com/news/china/military/article/2178493/death-penalty-may-await-chinese-aircraft-carrier-builder-boss He has since been sentenced to 20 years imprisonment.http://www.xinhuanet.com/legal/2019-07/04/c_1124711643.htm ; https://web.archive.org/save/http://www.xinhuanet.com/legal/2019-07/04/c_1124711643.htm
Noteworthy international collaborations
CSIC held a signing ceremony with a number of foreign firms for contracts worth US2.08 billion on 27 June 2019.http://www.eworldship.com/html/2019/NewOrder_0628/150587.html ; https://web.archive.org/web/20190726033802/http://www.eworldship.com/html/2019/NewOrder_0628/150587.html ; https://splash247.com/csic-secures-2-08bn-worth-of-new-contracts/ Among the foreign firms involved in the signing ceremony were Koch, Olendorff, REW Group and WEM Lines, all of which entered into co-operative chartering agreements.https://web.archive.org/web/20190726033802/http://www.eworldship.com/html/2019/NewOrder_0628/150587.html ; https://splash247.com/csic-secures-2-08bn-worth-of-new-contracts/
Last updated 24 November 2019. Unclear about any wording? Visit the terminology page.