Sinotrans, Changjiang Shipping plan merge

China National Foreign Trade Transportation Corp (Sinotrans) and China Changjiang National Shipping Corp plan to merge into China's second-largest shipping logistics firm.

Sinotrans Group, parent of Sinotrans, Sinotrans Ship and Sinotrans Development, and Changjiang Shipping, the parent of Nanjing Tanker and Changjiang Phoenix, have submitted a merger proposal to the state asset regulator. Sinotrans Group will take the lead in the merger, which will not involve any equity in the listed units of the two group companies.

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