CSIC remains buoyant with diversification, controls on risk

Despite tough times in industry, largest shipbuilder completes 33% more orders

The China Shipbuilding Industry Corporation (CSIC), the country's largest shipbuilder, achieved impressive double-digit growth in output, revenue and profit last year despite the global recession.

Last year was tough for China's export-oriented shipbuilding industry with new orders at the national shipyards dropping by 55 percent to 26 million deadweight tons, according to figures from Ministry of Industry and Information Technology.