Can a wholly foreign-owned enterprise build or own a ship in China?

There are two different meanings of the sentence that foreign-funded enterprises build ships in China.

(1) Foreign shipbuilding enterprises set up factories in China.

(2) Foreign-funded enterprises entrust domestic shipyards to build ships.

Regarding (2), it is definitely possible. China is a big shipbuilding country, and many orders are international orders.

With regard to (1) foreign capital's reorganization, merger or joint venture in China, shipbuilding enterprises, marine medium and low speed diesel engine manufacturing enterprises and crankshaft manufacturing enterprises must be controlled by the Chinese side, and the foreign capital's shareholding ratio shall not exceed 49%. The joint venture must establish a technology center to digest and absorb the technology transferred by the foreign party. This is clearly stipulated in the medium and long-term development plan of the shipbuilding industry. However, it is not excluded that some local governments have implemented relatively loose examination and approval of political achievements.

Reference: medium and long-term development planning of shipbuilding industry

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Owning a ship is almost the same, and there is no problem in owning it, but foreign-funded shipping companies are limited. It is said that Shanghai Free Trade Zone will have a new policy to allow wholly foreign-owned shipping companies, please follow up.