China Shipping, China Merchants form strategic partnership

China Shipping Group and China Merchants Group have signed a strategic agreement to cooperate in the areas of port developments, financings and shipping services.

The cooperation will seek to deepen reforms and encourage innovation at both the state-owned companies, allowing them to raise their competitiveness on a global scale.

Further details of the cooperation in the specific areas of businesses were not revealed in the brief statement from the signing ceremony held on Wednesday.
Source: Seatrade Global