CIC Backs Carnival Cruise Joint Venture

Carnival Corporation & plc, a major cruise liner company, has formed a 25-year joint venture with Beijing-based China State Shipbuilding Corporation, one of the two biggest shipping conglomerates in China, and the China Investment Corporation (CIC). China State Shipbuilding Corporation is a state-owned enterprise directly supervised under State-owned Assets Supervision and Administration Commission (SASAC). The signing ceremony, at the Mansion House in London, was attended by Chinese President Xi Jinping and U.K. Prime Minister David Cameron.

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