Posted inChinaNortheast AsiaShanghaiWorld

China’s COSCO to boost stake in Qingdao port operator

COSCO Shipping Ports will acquire a 16.82% stake in Qingdao Port International (QPI), operator of China’s sixth busiest port, the company said on Sunday, expanding its network. Under the agreement, Shanghai China Shipping Terminal Development, a subsidiary of COSCO Shipping Ports, will pay 5.8 billion yuan (US$844 million) for the shares in QPI. The deal, to […]