Jointly founded by COSCO from China and Kawasaki Heavy Industries Ltd from Japan in 1995, Nantong COSCO KHI Ship Engineering Co Ltd is regarded as a benchmark of China's shipbuilding industry and one of the world's most competitive shipyards. [Photo/ntfabu.com]

Nantong COSCO KHI Ship Engineering Co Ltd, or NACKS, signed four deals worth more than $20 million at the third China International Import Expo (CIIE) in Shanghai on Nov 6, contributing to Nantong's status as a national center of intelligent ship manufacturing.

Shipbuilding and marine engineering are Nantong's major industries. After years of development, the city now has over 400 marine engineering, shipbuilding and supporting enterprises above designated scale which have annual revenue from their main business of over 20 million yuan ($3.03 million). The shipbuilding and marine engineering industries in Nantong currently hold 10 percent and one third respectively of China's domestic market.

In 1995, China Ocean Shipping (Group) Company (COSCO) and Kawasaki Heavy Industries Ltd jointly established a venture in Nantong. Completed and put into production in less than three years, NACKS rapidly became a benchmark in China's modern shipbuilding industry.

It was the third time that NACKS participated in the CIIE, with year-on-year growth in the amount of orders. On Nov 6, NACKS signed agreements valued at $27.1 million with four Japanese enterprises for products such as rolled steel, electric generators and radar, deepening cooperation with Japanese suppliers.