Xiamen ITG to set up ship industry fund

Guangzhou: Xiamen International Trade Group (Ximaen ITG), a state-run multi-sector enterprise, announced that two subsidiaries of the group, Xiamen ITG Investment and Xiamen ITG Ship Import & Export Co, plan to establish a joint venture with Fortune Link, a Shanghai-based equity investment company. The three companies will invest RMB3.5m, RMB3.1m and RMB3.4m respectively.

Xiamen ITG said the joint venture will set up an industry fund which will support the shipping and offshore industries in Fujian. Fortune Link will be the fund manager. [25/06/14]

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