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China's Flagship Container Operator Wins 1.2 bln Yuan Loan
The China International Ocean Shipping Container Co. Ltd (COSCO), China's flagship container handler, Friday signed an agreement with the China Export and Import Bank (Exim Bank) for a 1.2 billion-yuan loan in export credit.
The loan will help COSCO expand its position in the export market.
The company, based in Shenzhen, in south China's Guangdong Province, has so far received a total of 3.9 billion yuan in loans from the Exim Bank.
COSCO is the world's largest container seller, with sales of 700,000 TEU containers last year, accounting for over 37 percent of the world's total. It earned one billion U.S. dollars in foreign exchange last year.
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