China's largest shipbuilding company chooses HK as base to overseas markets

China's largest shipbuilding company, China Shipbuilding Industry Corporation (CSIC), celebrated the grand opening of its Hong Kong office Friday.

Registered as China Shipbuilding and Offshore International (HK) Co. Ltd., the new Hong Kong operation is wholly-owned by the CSIC's subsidiary China Shipbuilding and Offshore International Co. Ltd. (CSOC). It will serve as a regional office overseeing the Southeast Asian markets for the company.

The chairman and president of China Shipbuilding and Offshore International (HK) Co. Ltd., Xu Ziqui, said Hong Kong's shipping sector has played a very important role in the development of shipbuilding industries in China.

With the closer economic relationship between Hong Kong and the mainland in recent years, shipping-related businesses between the two places have intensified. In particular, the number of shipbuilding and repair contracts for mainland shipbuilders from Hong Kong vessel owners has increased substantially, said Xu.

According to Xu, the new regional office in Hong Kong will play a key role in providing responsive and timely services to customers in Hong Kong and Southeast Asia. The office will also be responsible for providing detailed market analysis, to allow the management to plan strategies for future business expansion.

"Hong Kong is one of the world's largest trading and shipping centers. With its strategic location in the heart of Asia, the Hong Kong office will play a key role in connecting the company's network in the region. The new office will also enable us to operate more closely with the Hong Kong shipping sector to tap the huge business opportunities brought along by the rapid economic growth in the mainland," he noted.

The director-general of investment promotion at Invest Hong Kong, Mike Rowse, officially welcomed China Shipbuilding's decision to use Hong Kong as their regional base.

"China Shipbuilding's choice of Hong Kong for its regional office confirms the leading position of Hong Kong as an international shipping center. Hong Kong's extensive and efficient port facilities are backed by top-quality trade, financial and other services. We look forward to celebrating the expansion of the company in Hong Kong in the near future," said Rowse at the opening ceremony.

Source: Xinhua