Shanghai-listed Cosco Shipping Development is launching a new ship finance fund with a domestic partner.
The "shipping industry fund", set up in conjuction with China Cinda Asset Management, will have capital of CNY 1.001bn ($153.48m), with Cosco putting in CNY 500m, giving it a 49.95% share.
The cash could be used to finance vessel assets.
The Cosco leasing company said in a statement that its establishment is conducive to promoting its investment in its strategic long-term aims.
