CSIC outlines growth plans

Beijing: China’s leading state-owned shipbuilding group, CSIC is planning for the next two years to be the acquisition years, the company has said during the investor meeting.

The company plans to list its high-end and emerging businesses and utilise finds for a series of acquisitions.

CSIC will introduce private investment, set up a fund company, and an overseas investment company to improve its overall profitability.

The company said it will also develop its onshore wind and LNG industry business, although will remain “cautious about increasing investment in commercial shipbuilding business at current situation”. [14/10/14]

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