Royal Greenland, the world's largest coldwater shrimp supplier, acquired a 20 percent stake in Chinese company Beiyang Jiamei Seafood in December, as the region becomes its largest single market.

"As a consequence of the positive development in China, we are gaining several new collaboration partners and a broader market presence," the company said in its 2019 annual report.

The Chinese company, which is particularly advanced in online trading, will help Royal Greenland strengthen its position in digital channels.

Royal Greenland sold DKK 1 billion (€134 million/$145 million) worth of products to China in 2019, driven mostly by Greenland halibut and shell-on prawns.