Contracts between China's top state-owned shipbuilding firm and Taiwan's leading shipping company are likely lowering the costs of upgrading China's navy, posing security concerns for the island claimed by Beijing, a U.S. think tank said on Thursday.
China State Shipbuilding Corp (CSSC) is a key producer of vessels for China's rapidly expanding People's Liberation Army Navy (PLAN), and is thought to be building its third aircraft carrier.
