Shanghai: Jiangxi government has organised a meeting with local financial institutions to help financially troubled Jiangzhou Union Shipbuilding.
The shipyard ran into financially difficulties last year, with some 700 employees not having been paid for up to 11 months.
At the meeting, China Exim Bank Jiangxi Branch and Sinosure Nanchang Branch agreed to support the shipyard and will work on financing solutions together. [07/11/14]
Workers at Jiangzhou yard unpaid for nearly a year