The Bloomberg news service reported on February 11, 2016, that China’s exports fell 1.8 percent in 2015, while its imports tumbled 13.2 percent.  It also quoted China's Ministry of Industry and Information Technology as saying that new orders for Chinese shipbuilders fell by nearly half last year. In December, Zhoushan Wuzhou Ship Repairing & Building became the first state-owned shipbuilder to go bankrupt in a decade.Sales at Shanghai International Port were 7.5 billion yuan ($1.1 billion) in the third quarter, down from 7.6 billion yuan the year before, and net profit was 1.4 billion yuan, a decline of 18 percent.