COSCO (Hong Kong) Group Ltd., Hong Kong, a principal subsidiary of China
Ocean Shipping (Group) Co. Ltd., Beijing, reported that in spite of the Asian financial
turmoil, it has performed satisfactorily in 1999.
Its main targets, including production, operation, safety and profit, were
"successfully fulfilled and overfulfilled," it said.
COSCO (HK) Group is a large diversified group in its own right, only partly
involved with shipping. It describes itself as one of the top Chinese enterprises in Hong
Kong and with assets of several billion U.S. dollars.
It was originally formed to take care of all COSCO group interests in Hong
Hong, Macao and the Philippines.
