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China and Singapore lift curbs on subsidiaries.
(From Lloyds List)
Byline: Marcus Hand in Singapore
SINGAPORE shipping companies will be able to set up wholly-owned subsidiaries in China without geographical restrictions following a new protocol signed by the two countries.
Singapore's Transport Minister Yeo Cheow Tong and Chinese Communication Minister Zhang Chunxian signed a protocol amending the China Maritime Transport Agreement in Beijing on Tuesday.
'This protocol that we have signed today will allow Chinese and Singapore shipping companies to establish wholly-owned subsidiaries in Singapore and China respectively, without any geographical limitation,' Mr Yeo told the ceremony. …
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