Wuhan Marine Equipment Industry Park (WMEIP) established in 2006, is a joint-venture agreement of China Changjiang National Shipping (Group) Corp., Wuhan Hi-Tech State Holding Group Co., and I.M. Skaugen SE.

The joint venture company was established to develop and manage the Wuhan Marine Industrial Park located in Wuhan, Hubei Province. The Government has now provided the company with all its licenses to commence operations. The company will perform park planning and development as well as property management, construction of facilities and provide training, consultancy services and assistance for establishment of new entities.The concept of a marine equipment industry park in Hubei was initiated during a visit by Governor H.E. Luo Qingquan of Hubei Province to the Norwegian Minister of Trade and Industry, Mr. Borge Brende in spring of 2005.

The industry park will promote development of the shipbuilding industry in Hubei, enhance the manufacturing level of marine related equipment in China for ships, bringing advanced domestic and international marine equipment manufacturers into Hubei Province, and make the Marine Industrial Park a manufacturing, sales and service base of the key marine equipment; this isin order to satisfy the development demand of the rapidly growing shipbuilding industry of China.