21 June 2019

Tianjin Port told to resolve competition issue, paper says

Tianjin Port Co. Ltd. (600717.CN) said Monday it has received an inquiry from the Tianjin bureau of the China Securities Regulatory Commission about direct competition with its majority shareholder Tianjin Port Development Holdings Ltd. (03382.HK), the Securities Times reported Monday. Tianjin Port Development Holdings made a promise to resolve the issue with Tianjin Port Co. by February 2013, but a proposal has yet to materialize. The CSRC has also asked the holding company to give an explanation and propose solutions on how to resolve the matter, the report said.

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