A few days ago, by the Ministry of Industry and Information Technology, the National Development and Reform Commission, the Ministry of Science and Technology, the Ministry of Finance, the People’s Bank of China, the State-owned Assets Supervision and Administration Commission, the China Banking Regulatory Commission and the State Oceanic Administration, the Action Plan for Sustainable and Healthy Development of the Marine Engineering Equipment Manufacturing Industry (2017~2020)" issued. The plan proposes that by 2020, the international competitiveness and sustainable development capabilities of my country's marine engineering equipment manufacturing industry will be significantly improved, the industrial system will be further improved, the degree of specialization, serialization, informatization, and intelligence will continue to be strengthened, and the product structure will move toward the high-end , And strive to enter the ranks of advanced countries in marine engineering equipment assembly manufacturing.
Offshore engineering equipment is one of the ten fields supported by the "China Manufacturing 2025 Plan". At present, domestic enterprises' global industrial competitiveness is continuously improving. Since 2017, with the market bottoming out, the integration of the offshore equipment operation industry has accelerated. According to data, in the first half of 2017, driven by orders for multiple large-scale offshore floating production platforms, global offshore engineering equipment transactions totaled US$6.8 billion, a significant year-on-year increase of 182%.
The plan identified 17 key tasks in six areas. One is to deepen reform and promote innovation. Optimize the industrial innovation model and establish an innovation center for the marine engineering equipment manufacturing industry; second, increase efforts to adjust the structure. Intensify adjustment and reorganization, and promote the implementation of specialized reorganization and internal resource integration of offshore equipment manufacturing enterprises (groups); third, take multiple measures to remove "inventory"; fourth, break through bottlenecks and make up for shortcomings. Through independent research and development, we will vigorously cultivate and develop supporting products with core advantages; the fifth is to strengthen basic brand creation. Actively promote intelligent manufacturing, and advance the intelligent transformation of offshore equipment design and manufacturing; sixth, comprehensive opening to promote development. Promote the in-depth development of military-civilian integration and increase international joint ventures and cooperation.
With the increase in demand for marine equipment at home and abroad, my country’s marine engineering equipment manufacturing industry has seized the strategic opportunity at the peak of the market, accepted a number of orders with greater influence, achieved rapid development, and significantly improved its capabilities. According to relevant forecasts, my country’s marine economy will maintain an average annual growth rate of about 8%. By 2020, the proportion of GDP in GDP will exceed 12%, and by 2030 it will exceed 15%. After 2030, my country’s marine economy will Entering maturity.
Benefited from the global economic recovery, the continued increase in commodity prices, and the reduction of capacity in the domestic shipbuilding industry, the offshore equipment industry is expected to emerge from the trough in 2018. With the strong support of policies, related listed companies in the A-share market, Zhongzhenhua Heavy Industry (600320.SH), CIMC (000039.SZ), China National Offshore Oil Services (601808.SH), and Offshore Oil Engineering (600583.SH) are worthwhile attention.