Logistics firm Sinotrans and CSC Holdings has become a wholly-owned subsidiary of the China Merchants Group.
Sinotrans and CSC Holdings is now the biggest integrated logistics service provider with total assets of 100 billion yuan, or 16 billion U.S. dollars.
The Hong Kong-based China Merchants Group is a state-owned conglomerate with businesses in transportation, finance and real estate.
By the end of 2014, its total assets stood at more than 620 billion yuan.
Source:
http://english.cri.cn/12394/2015/12/30/3521s910735.htm