Chinese government is putting all its strengths in enhancing competitiveness of its major industries through M&As.

The Ministry of Industry and Information Technology of China (MIIT) with 11 government department, including the National Development and Reform Commission (NDRC), etc., announced its plan for mergers and acquisitions in major industries on January 22.

The plan regarding shipbuilding industry mentions, it aims that China's Big10 shipbuilders would deliver more than 70% of overall ships delivered from China, at least five Chinese shipbuilders would be ranked in Global Top 10 shipyards through large-scale M&As. Also, the plan is to promote five to six companies as offshore plant equipment manufacturers.

To achieve the plan, major shipbuilders would aggressively carry out M&As regardless of differences in region and industry and the government would bolster development of leading companies with specific competitiveness.

Moreover, the government would help shipyards to improve capacity through M&As and small-and-medium sized shipbuilders to have their own characteristics and brand quality.