Chinese firm invests in Europe's largest cargo airline

A company in central China's Henan Province has invested in Luxembourg's Cargolux Airlines International to introduce a new freight service between China and Europe, local authorities announced on Wednesday.

Henan Civil Aviation Development & Investment Co. Ltd purchased 35 percent of the stocks in Cargolux.

Francois Bausch, head of Luxembourg's department of sustainable development and primary industries, signed an equity acquisition agreement with a representative of the company, after his meeting with Xie Fuzhan, governor of Henan, on Tuesday.

According to the agreement, Cargolux will open a new freight service route between Zhengzhou City in Henan and Luxembourg, and build an air cargo network that links Asia and Europe.

Cargolux Airlines International is the largest cargo airline in Europe, and the ninth largest in the world.