Twice as big as the Titanic: reports China's first luxury cruise liner set for launch in 2020

China's first domestically built luxury cruise liner - designed to be more than twice the size of the Titanic, the ill-fated British passenger ship that sank on its maiden voyage after hitting an iceberg in 1912 - will launch in 2020, mainland media reports.

The deal, which would see a new domestic cruiseline brand operate on the mainland, would help to develop China's luxury cruise-line industry, it said.

China Investment Corp (CIC), one of the largest sovereign wealth management funds in the world, would also serve as a partner in the deal, the report said.

CSSC and CIC would own 60 per cent of the venture between them and Carnival would own the rest, Caixin reported.

The still-to-be-named joint venture would order about five ships, which would be built by Shanghai Waigaoqiao Shipbuilding Company, a subsidiary of CSSC. Total investment would be about 25 billion yuan (HK$30 billion), the report said.