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China Shipping, Bank of China enter into $14bn strategic cooperation

China Shipping Group and Bank of China have signed a RMB90bn ($14.4bn) strategic agreement aimed at cooperation in various areas.

Lee Hong Liang, Asia Correspondent

February 5, 2015

1 Min Read
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Under the agreement, the two sides will collaborate in the areas including credit facilities, cash management, direct financing, financial advisory, investment, and insurance, with an aim to extend the reach of state corporations to a global scale.

The cooperation is also in line with the China (Shanghai) Pilot Free Trade Zone to bring about economic and social reforms.

Established in 1997, China Shipping Group owns and operates around 500 ships with a total capacity of 30m dwt.

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About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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