Beijing-- China says its recently announced Jiaolong submersible craft is designed to go deeper than any other in the world.
Experts say the announcement shows Beijing's intention to take the lead in exploring previously inaccessible parts of the ocean floor rich in oil, minerals and other resources China would like to mine, The New York Times reported.
"They're in it for a penny and a pound," Don Walsh, a deep-ocean diving expert who recently visited the submersible and its builders in China, said. "It's a very deliberate program."
Named after a mythical sea dragon, the Jiaolong was announced publicly last month after eight years of secretive development.