A shipbuilding and repairing area of COSCO Shipping Heavy Industry (Zhoushan) Co in Zhoushan, Zhejiang province. [Photo/Tide News]

From January to August, Zhoushan's large-scale shipbuilding industry achieved an output value of 27.81 billion yuan ($3.96 billion), marking a year-on-year increase of 26.20 percent, and accounting for over 70 percent of Zhejiang province's total.

The industry saw 2.32 million deadweight tons of vessels built, received new orders totaling 6.87 million tons, and held 12.54 million tons in hand – year-on-year growth rates of 73.3 percent, 51.7 percent, and 61.7 percent, respectively.

The ship repair sector serviced 2,902 vessels, a 9.9-percent increase year-on-year, representing over 35 percent of the national total and approximately 20 percent of the global market, thereby reinforcing the city's position as the world's largest ship repair and conversion base.

In the first half of this year, the ship repair revenue of COSCO Shipping Heavy Industry (Zhoushan) Co exceeded its target for that period. In shipbuilding, the company's performance was equally impressive. To date, the company has delivered 11 new ships this year, a year-on-year increase of over 500 percent.

In the first half of the year, Zhoushan Changhong International Shipyard Co held 51 shipbuilding orders totaling over 5.4 million tons, ranking 12th among global shipbuilding and repair companies. The company also received eight new shipbuilding orders totaling 530,000 tons, ranking 22nd globally.