According to the agreement, the two parties will promote joint venture projects, explore emerging markets and develop innovated business model to provide leading solutions for global automobile supply chain, as well as digital supply chain ecosystem, green and smart developments. 

In October this year, Cosco Shipping and FAW Group signed share transfer agreement, and transferred 5% shares of the company to the automobile maker for expanding supply chain cooperation and strengthening overseas business development. 

Cosco Shipping believes the cooperation with FAW Group could further optimise automobile transportation model and promote integrative development between advanced manufacturing industry and modern service sector. 

FAW Group is the largest automobile manufacturer and seller in China, which is expanding footprint in global markets and exports of new energy automobile products.