Xiamen International Port has announced that Xiamen Port Holding will be integrated into Fujian Port Group as a wholly-owned subsidiary, following an approval by Fujian Provincial People’s Government.
The State-owned Assets Supervision and Administration Commission of the People’s Government of Fujian Province (Fujian SASAC) will integrate the assets relating to the port and shipping businesses of Fujian SASAC and the various prefectural-level cities within the province into Fujian Port Group, of which Xiamen Port Holding will come under it.
Upon completion of the deal, the owner of the company will be changed from the State-owned Assets Supervision and Administration Commission of Xiamen Municipal People’s Government to Fujian SASAC.
Last year, the Fujian provincial government issued file for deepening reform and transformation, promoting port resources optimisation and integrated management.
