Jinzhou Port sets up insurance brokerage subsidiary

Jinzhou Port sets up insurance brokerage subsidiary

China’s Jinzhou Port has announced that it will invest RMB50m ($7.6m) to set up a subsidiary to tap into the insurance brokerage business.

The new company, named Jingang Insurance Brokerage, will be registered in Tianjin.

Jinzhou Port said the new company will help enhance company profitability and further complete the company’s expansion into the financial sector.

The subsidiary is still waiting approval from China Insurance Regulatory Commission.

Jinzhou Port is major grain shipping port in Northeast China, completing a cargo throughput of 52.67m tons in the first half of 2017, up 18% year-on-year.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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