China to Encourage Shipping Consolidation

China will encourage mergers and consolidations among central government-held shipping companies, the head of the state assets regulator said on Tuesday.

Xiao Yaqing, chief of state-owned Asset Supervision and Administration Commission (SASAC) was speaking at a forum on the sidelines of China International Import Expo (CIIE) in Shanghai.

(Reporting by Tom Daly and Beijing Monitoring Desk, Editing by Sherry Jacob-Phillips)