Guangzhou Marine Equipment Group has begun operations after an unveiling ceremony, according to Splash247. The company was incorporated in July and has registered capital of RMB2 billion.

The report identifies Guangzhou Industrial Investment Holding Group as its sole owner and the municipal government as the ultimate shareholder. It says the new group has signed cooperation agreements with shipbuilders and maritime businesses, including Guangzhou Shipyard International and Huangpu Wenchong.

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Source: Splash247 · original report