China Launches Guangzhou Marine Equipment Group to Boost Its Shipbuilding Industry
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The Chinese city of Guangzhou formally launched Guangzhou Marine Equipment Group, a new state-owned company with registered capital of 2 billion RMB (about $300 million, according to Splash 247) aimed at expanding local shipbuilding manufacturing capacity and the supply chain. The company is wholly owned by Guangzhou Industrial Investment Holding Group (GIIHG), with the Guangzhou municipal government as its ultimate shareholder. It was incorporated on July 24 and had its formal launch on October 19, 2026, headquartered in Nansha District, according to Xinde Marine News.
Agreements with major industry players
At the launch ceremony, the new group signed strategic cooperation agreements with Guangzhou Shipyard International (GSI) and Huangpu Wenchong, both controlled by China State Shipbuilding Corporation, as well as with COSCO Shipping Specialized Carriers, marine technology firm SEAHI Robotics, and the Guangzhou branch of China Classification Society. According to Xinde Marine News, the cooperation covers research and manufacturing of marine equipment, technological innovation and commercialization of research developments, while Splash 247 noted that the group will also draw on marine propulsion and heavy engineering businesses such as Guangzhou Diesel Engine Factory.
Targets for 2030 and 2035
Guangzhou Marine Equipment Group has set a target of reaching a business scale of about $3.9 billion by 2030, according to local government-backed figures cited by Splash 247. Looking further ahead, Ship News and Xinde Marine News both reported that the city aims for its shipbuilding industry to reach 200 billion RMB by 2035, with 100 billion RMB coming from shipbuilding, 50 billion RMB from ancillary equipment, and 50 billion RMB from marine services.
A new base at Longxue North
The group's launch coincides with the expansion of Guangzhou's shipbuilding infrastructure at Longxue North, Nansha, construction of which began on September 21. Splash 247 estimated the project's investment at about $1.09 billion, with completion expected by 2029 and operations to be run by GSI, while Xinde Marine News put the investment at roughly 7.25 billion RMB, exceeding 10 billion RMB when including ancillary works such as roads and dikes, with full operation expected by June 2029 and an annual capacity of 18 vessels, equivalent to about 800,000 DWT, initially focused on medium and large containerships, LR2 tankers and Panamax bulk carriers.
Leadership and future ambitions
Li Weibiao, chairman and general manager of Guangzhou Marine Equipment Group, also heads Guangzhou Diesel Engine Factory, Xinde Marine News reported. Li outlined long-term ambitions that include LNG carriers, containerships of more than 10,000 TEU, VLCCs, large vehicle carriers and cruise ships, as well as joint work with universities and research institutes on subsea exploration equipment, deep-water resource development and unmanned systems.
