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SHANGHAI, May 31 (Xinhua) -- China State Shipbuilding Corporation (CSSC) announced Wednesday that it will build China's first luxury cruise ship, which is expected to begin operations as early as 2021.

The ship, which will be 323.6 meters long and 37.2 meters wide, will have 3,921 beds and accommodate 4,980 passengers, said Wu Qiang, CSSC general manager.

CSSC will work with American cruise company Carnival, Italian shipbuilding company Fincantieri and British Lloyd's Register to build the ship.

The move reflects the vigorous development of the country's cruise industry, said Wu.

China's cruise market is developing fast with the number of outbound cruise passengers topping 2 million in 2016, according to figures from the China Cruise and Yacht Industry Association.

Experts forecast Chinese will make 10 million cruise trips annually by 2025, becoming the most dynamic cruise market in the Asia-Pacific region.

China is currently the world's eighth-biggest cruise market.