CSIC meaning in Business ?

Answer:

What is China Shipbuilding Industry Corporation mean?

The China Shipbuilding Industry Corporation (CSIC) was one of the two largest shipbuilding conglomerates in China, the other was the China State Shipbuilding Corporation (CSSC). It was formed by the Government of the People's Republic of China on 1 July 1999 from companies spun off from CSSC, and is 100% owned by State-owned Assets Supervision and Administration Commission (SASAC) of State Council. Headquartered in Beijing, the CSIC handles shipbuilding activities in the north and the west of China, while the China State Shipbuilding Corporation (CSSC) deals with those in the east and the south of the country.

CSIC's subsidiary, China Shipbuilding Industry Company Limited (CSICL), was listed on the Shanghai Stock Exchange in 2008. Its trade arm is China Shipbuilding & Offshore International Co. Ltd (CSOC).

CSIC has developed 10 main product sections: shipbuilding, marine engineering, diesel engines, storage batteries, large steel structure fabrications, port machinery, turbochargers, tobacco machinery, gas meters and automation distribution systems.

The main business scope of CSIC includes management of all the state owned assets of the corporation and its subsidiaries, domestic and overseas investment and financing, undertaking scientific research and production of military products, mainly of warships, design, production and repair of domestic and overseas civil vessels, marine equipment and other non-ship products, various forms of economic and technological co-operation, overseas turnkey project contracting, labour export, projects of production with foreign materials, engineering project contracting, engineering construction, building construction and installation, and other business authorized.

On 26 November 2019, the shipbuilding conglomerate merged with China State Shipbuilding Corporation again to form new China State Shipbuilding Corporation.

reference

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