Greater China

China Shipping completes its first forex funds deal

Shanghai: Shanghai’s China Shipping Group has completed its first centralized operation and management of foreign exchange funds deal through the global cash management platform of the Bank of China. The company issued US$5m loans from China to abroad, and collected US$15m to China through overseas subsidiaries.

An official from China Shipping said the company will continue to develop this business to improve the level of funds management and control by actively utilizing domestic and overseas financial markets. [01/02/13]

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