Six Chinese cruise companies may come together to form a new cruise holding company in Huaxia International Cruises.

According to local sources in China, the new company will operate under a shareholder cooperation agreement that was signed in late December.

Huaxia International Cruises aims to become a leader in the country’s cruise industry development, a local news report said, while carrying out “professional, market-oriented and international operations.”

Among the shareholders of the new brand is China Merchants Shekou, who currently operates the former Viking Sun as part of a joint venture with Viking Cruises.

The other companies that formed the new entity are China Tourism Group, China Ocean Shipping Group, Jinjiang International Group, Shanghai Wusongkou Cultural Tourism Investment Group, and Shanghai Jiushi Group.

The company will reportedly use the Shanghai Baoshan Wusong International Cruise Port as its main homeport, while taking into account the cooperative development of Hainan, Shenzhen and other Chinese ports.

With Shi Shanbo as its legal representative and a registered capital of 8.5 billion yuan (approximately $1.2 billion), the company will also offer waterway cargo transportation, duty-free commodity sales, tourism business, and supply chain management services, among other services, said a local report.

After years of reduced operations, the Chinese market is set for a major comeback in 2024.

The year will mark the return of international brands to the country, with MSC Cruises leading the way in March.

The European cruise line is bringing two large vessels to mainland China, including the 4,500-guest MSC Bellissima.

Royal Caribbean International is resuming its operations in the country a few weeks later, with the Spectrum of the Seas arriving in April.

Adora Cruises also upped its game earlier this year with the debut of the new Adora Magic City. Now sailing from Shanghai on a year-round basis, the 5,246-guest vessel was built in China by the Shanghai Waigaoqiao shipyard.