China's ship building will exceed ten million tons this year, which will account for 18 percent of the world market, compared with 15 percent last year.

General Manager of the China State Shipbuilding Cooperation, Chen Xiaojin, says China's ship building industry is facing new opportunities as the center of world ship manufacturing transfers to countries with low-cost labor.

He says many shipyards plan to increase production by 2008.

Chen Xiaojin says his company is building the largest shipbuilding base in the world, which will make the company the world's third largest shipbuilding corporation.

China's total ship building output was the third in the world last year.

(CRI May 3, 2005)