China's first luxury cruise liner to launch in 2020
The UK's travel and leisure company, Carnival, and the China State Shipbuilding Corporation (CSSC) have formed a joint venture to launch China's first domestically built luxury cruise liner in 2020, designed to be over double the size of the Titanic, say reports. The venture includes the eventual construction of five major luxury cruise vessels at a cost of approximately $31bn.  The China Investment Corporation (CIC) is the main funder for the project.  This new deal is predicted to accelerate the development and growth of the overall cruise industry in China, which is fast becoming the largest cruise market in the world.

A woman takes picture of the cruise liner Voyager of the Seas in Shanghai. Photo: Xinhua