Chinese State Shipping Giant COSCO Holds Stake in Bank of Kunlun

Home Community Industry News Chinese State Shipping Giant COSCO Holds Stake in Bank of Kunlun

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    Greensea Systems
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    Chinese state-run shipping giant COSCO Shipping Development Co said on Tuesday that it holds a 3.74% stake in Bank of Kunlun, which has acted as a key official channel for money flows between China and Iran.

    The statement was made by the shipping firm on the e-interview platform of the Shanghai Stock Exchange, in response to an investor question on whether it held a stake in the bank.

    COSCO did not elaborate on when it acquired its holding, although the bank had disclosed the shipping firms stake in its 2019 annual report.

    COSCO’s comments come days after China and Iran, both subject to U.S.

    Read more by visiting MarineLink.com

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