Beijing to merge 2 more state-owned shipping companies

Shanghai

CHINA will combine two of its state-owned shipping giants, the companies said, the sector's second multi-billion-dollar merger in a month as the government pushes consolidation of its nationalised enterprises.

Sinotrans & CSC Holdings Co, the nation's third-largest shipping company, will become a wholly owned subsidiary of China Merchants Group (CMG), a conglomerate with interests in transport, finance and property, according to company statements.