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China to allow private investors in shipping companies

The Chinese Ministry of Transport will reform its commercial fleet over the next four years, and the authorities are now opening the state-owned carriers to private investors, according to Reuters.

China's Ministry of Transport is looking to reform the country's massive shipping industry over the next four years, through measures such as mergers and acquisitions, in an effort to achieve specialization. The Chinese government will also try to broaded the ownership conditions of the country's state-owned shipping business in the hopes of attracting private investors.

This is evident from a new brief issued by the Chinese Ministry of Transport, according to news agency Reuters. The ministry published a series of guidelines in September aimed at overhauling the country's large commercial fleet.

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