Jinjiang Shipping said the joint venture named Jinjiang Vietnam, was important for the company to enlarge its overseas market and service scope.

It added that by taking advantage of Jinjiang Shipping Vietnam, the company will develop more services for RCEP regions from Vietnam.

Earlier this month, Jinjiang Shipping got approval from Shanghai Stock Exchange for initial public offering. The company is planning to raise around RMB3bn to expand and upgrade its containership fleet.