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China approves restructuring of two shipping giants

Xinhua, December 11, 2015 Adjust font size:

China's cabinet has approved the restructuring of the country's two shipping conglomerates, official sources said Friday.

With the approval of the State Council, the China Ocean Shipping (Group) Company and the China Shipping (Group) Company will be restructured, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC) said in a one-sentence statement. Endi