China, Flush With Cash, Sets Sights on Shipping


China poured $20 billion into ship financing this year, reflecting the country’s ambition to become the world’s dominant maritime player as European banks have scaled back their investments.

That is 33% more than Chinese banks invested in 2016, according to the leasing arm of Industrial Commercial Bank of China Ltd. It dwarfs China’s financing as recently as 2008, when its lessors lent just a few million to shipowners that built their vessels in the country’s shipyards.

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