Chinas shipbuilding output growth slowing

China’s shipbuilding enterprises realized a total output of 300.6 billion yuan ($44 billion) in the first seven months of this year, Ministry of Industrial and Information Technology said.

The figure represents an increase of 33.7% over the same period last year, but the growth rate was 24.3 percentage points lower according to the ministry. Large-scale shipbuilding enterprises, with an annual output of above 5 million yuan, posted a total export value of 140.3 billion yuan in the first seven months, up 21.3% year-on-year, but the growth rate declined 40.8 percentage points.