China Merchants Steam Navigation was founded with imperial approval on 26 December 1872, although Lloyd’s gives 1871. It competed with foreign lines in Chinese coastal and river trades, with less success in deep-sea services. During the Sino-French War the fleet was nominally sold to an American sister company to use neutral American colours, reverting on 17 May 1885. The sale date is malformed as 297.1884 in the source. Government ownership is recorded from 1932. In 1949 the concern divided between mainland and Nationalist interests, with most ships passing to Taiwan and the mainland ocean fleet left to rebuild under embargo.
China, Shanghai; Hong Kong and later Shanghai are also recorded.
Keep the explicit scope label independent; no alias or company identity is inferred.