China's Cosco Shipping Technology (CS Tech) is setting up a new company to develop navigation and communication systems.
Its parter Furuno Electric of Japan said it will also bring in Heisei Trading to form Cosco Shipping Furuno Navigation Technology (Shanghai) Co in Shanghai.
Furuno sees the move as a "big chance" to grow its market in China.
CEO Yukio Furuno said: "The establishment of this joint venture represents the initial step of building up a stronger relationship between Cosco Shipping Group and Furuno, aimed at contributing to the development of the maritime industry, not limited in China and Japan”.
