China Shipbuilding Industry Report 2021: China's Shipbuilding Completion Volume Fell by 27.3% in Q120 Due to COVID-19 February 11, 2021 05:58 ET | Source: Research and Markets Research and Markets Dublin, IRELAND ResearchAndMarkets.com's offering. Shipbuilding is a modern and comprehensive industry of strategic importance that provides technical equipment to industries such as water traffic, ocean development and national defense. China's shipbuilding industry has been developing rapidly with the government's policy support and cost advantages since the beginning of the 21st century. China-made mainstream ships including container ships, bulk carriers and oil tankers and high-end ships including liquefied gas carriers have certain competitive advantages on the international market. In the recent decade, the global shipbuilding industry presented a market structure of tripartite China-South Korea-Japan competition.