China’s former CSCL along with newly established Cosco Shipping Energy Transportation (CSET) are pumping CNY 600m ($87.2m) into finance company CS Finance.
This move will double the current registered capital of CS Finance from CNY 600m to CNY 1.2bn.
Parent China Shipping will also take part in the capital increase announced earlier today.
Cosco Shipping Development (CSD) will inject CNY 300m, while China Shipping will splash out CNY 60m and CSET CNY 150m.
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