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Shanghai Bestway ventures into financial leasing

Shanghai Bestway ventures into financial leasing
Shanghai Bestway Marine Engineering Design has ventured into financial leasing with an investment of RMB60m ($9.7m).

The investment will go toward the setting up of a joint venture financial leasing company, together with Shanghai Shipping Exchange and six other investors.

The new joint venture, named Changjiang United Financial Leasing, will be engaged in the development of inland river shipping services and its related infrastructure, as well as financial services for port and logistics, shipbuilding and related equipment.

The registered capital of the new joint venture is RMB1bn with Shanghai Bestway taking a 6% stake.

Shanghai Bestway, a ship design firm listed on the Shenzhen Stock Exchange, has developed more than 500 ship types since its establishment in 2001.