China Shipping in massive deal with state-owned bank

China Shipping Group and state-owned Bank of China have entered a large-scale partnership for a total of USD 14 billion. The deal is part of the country's ambitions to fine tune the Chinese shipping industry ahead of 2020.

Photo: Georg Hammerstein/POLFOTO/ARKIV

China Shipping Group has secured around USD 14 billion in credit and financing facilities through a giant collaboration with state-owned Bank of China, reports Seatrade Global.

China Shipping Group covers three listed companies, China Shipping Development, China Shipping Container Lines (CSCL) and China Shipping Haisheng.

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