| TUESDAY FEBURARY 22 2000 PUBLISHED BY CHINA DAILY | |||||
| BUSINESS | |||||
|
Launch of e-dictionary aids learners Foreign firms key to e-business 'No growth' forecast for cargo market Exhibition business faring well Show scheduled to boost boat industry CCB kicks off salary reform ICM confident in the China market By Song Ning THINNING hair caused by TV advertising to play bigger role Housing fair planned for April |
Pact to help China Shipping prosper THE China Shipping Company (CSC), one of the nation's three major con-tainer carriers, on Sunday signed an agreement with France's CMA CGM which will see 50 new container ships put into use on a container line jointly operated by the two shipping giants. CSC President Li Kelin said: "We are ahead of the competition in co-operating with foreign counterparts." The president believes the shipping industry will boom as China enters the WTO and it will rely heavily on containers. At present, 95 per cent of the nation's traded commodities are transported by sea. CSC, with a fleet of 91 container ships, has established a network consisting of more than 40 services. Under the agreement, as of March 1 the joint shipping capacity of the two companies will be increased to 139,000 containers on services bound for the Far East from Europe. The ships will call at 28 ports in the Far East, the Mediterranean Sea and Europe. "This agreement is an important strategy for both companies as they struggle to enlarge their share of the global shipping market," said Tristan Vieljeux, president of CMA CGM. He also said this latest move will lay the foundations for further co-operation between the two companies in future on services bound for North America and other parts of the world. CMA CGM entered China in 1992 and handled 140,000 containers along the nation's coastal areas last year. "The business is expected to grow by 30 per cent this year," said John Wang, managing director of CMA CGM (China) Shipping Company Ltd. CSC is the French company's first partner in China. Copyright 2000 by Shanghai Star. All rights reserved. |
|||