COSCO Shipping Corporation will receive 180 billion yuan ($26 billion) from China development Bank in the coming years to support the development of business, the Chinese shipping giant, according to gcaptain.com.
Funding will be provided through various financial products.
China COSCO Shipping Corporation was established in February 2016, the Headquarters of the organization is based in Shanghai. The Corporation was established on the basis of the reorganization of the Chinese shipping company (China Shipping Company) and COSCO (China Ocean Shipping Company). The project of establishing this structure was approved by Posvetom China in December 2015.
The company plans to use the money from the Bank on the reforms in your business.
