CHINA Cosco Shipping Co. Ltd has officially inaugurated the company osco Shipping Financial Holdings Limited" in Hong Kong. It was formerly China Shipping (Hong Kong) Holdings.

The formation of Cosco Shipping Financial followed the completion of the merger between China Cosco Group and China Shipping Group in February.

Cosco Shipping Financial Holdings, together with China Shipping Container Lines, will form a financial holding platform of China Cosco Shipping Corporation.

Its businesses include ship leasing, container leasing and manufacturing, non-shipping business, equity investment, internal financial services, banking equities and insurance business.

China Shipping Container Lines and China Shipping Development Corp also announced that their controlling shareholder, China Shipping (Group) Company, was organising major issues and their stocks would be halted from trading from August 10, reported MarineLink.com.