China Cosco Chief Says Shipping to Expand as Economy Picks Up

China Cosco Holdings Co., the nation’s largest listed shipping company, said the industry will expand as Chinese economic growth picks up momentum.

“We’re only beginning to see signs of recovery,” China Cosco Chairman and Chief Executive Officer Wei Jiafu said in an interview at the Tsinghua Management Global Forum in Beijing yesterday. “Premier Wen said the Chinese economy has seen a turning point in the third quarter, and it is bullish news for the shipping industry.”