Shanghai: A host of big names in Shanghai are coming together to launch a massive new finance leasing sector focused on the Yangtze river delta.
Shanghai Bestway Marine Engineering Design has announced that the company plans to invest RMB60m to set up a financial leasing company with Shanghai Shipping Exchange and another six investors.
The new jv, Changjiang United Financial Leasing, will be engaged in the development of major industries across the Yangtze river economic belt, including financial services to the shipbuilding, equipment and infrastructure industries.
The total investment of the new jv is RMB1bn, and Shanghai Bestway will hold a 6% stake.
Shanghai Bestway was listed on the Shenzhen Stock Exchange in 2009 and the ship design company has independently developed over 500 ship types since its establishment. [18/12/14]