Demonstrating once again that state-owned shipping companies have no lack of access to funds, China Shipping Group has signed a strategic cooperative agreement with Bank of China in Shanghai last week. The Chinese banking conglomerate will provide China Shipping a RMB 80 billion (USD 11.7 billion) credit line and this is the third agreement that China Shipping Group has concluded with the domestic banks.
This is only an excerpt of In a Sweet Spot
Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.
Tags: · Bank of China, Bank of Communications, China Merchant Bank, China Shipping Group, Shanghai
You must be logged in to post a comment.