Chinese state shipping giant COSCO takes stake in Bank of Kunlun

Chinese state shipping giant COSCO takes stake in Bank of Kunlun

A sign COSCO is seen behind tree branches atop of the company's headquarters in Beijing November 8, 2013. REUTERS/Barry Huang

Chinese state-run shipping giant COSCO Shipping Development Co said on Tuesday that it holds a 3.74% stake in the Bank of Kunlun, which has acted as a key official channel for money flows between China and Iran.

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