Cosco Shipping Energy Transportation Co., Ltd. recently announced that the company is a wholly-owned subsidiary of China Shipping Development(Hong Kong)Shipping Co., LTD. Borrows Shanghai Hongkou Branch of Bank of Communications Co., LTD5,000The $10,000 loan is secured in the amount of5,500Ten thousand dollars(About RMB3.57Hundred million yuan)And shall be jointly and severally liable for one year.

Ring view:At present, a large number of enterprises have implemented the international strategic layout and set up subsidiaries in Hong Kong. As the contact window between the company and the overseas market, the Hong Kong subsidiary can provide funds for the subsequent good operation of the company, promote the exchange and cooperation in the international market, timely obtain the latest news of the overseas market, enhance the international competitiveness of the company and promote the rapid and sustainable development of the company.

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