Qianhai Authority, China Merchants set up JV

Source :Tan Yifan

After three months’ preparation, Shenzhen Qianhai-Shekou Free Trade Investment and Development Limited Company was incorporated and inaugurated Wednesday by the Qianhai Authority and China Merchants Group.

As the main constructor, China Merchants Group will consolidate the joint venture company’s financial statements. Qianhai Development and Investment Holdings Company, wholly owned by the Qianhai Authority, and China Merchants Shekou Holdings Company will each invest 500 million yuan (US$75.08 million) and share a 50 percent equity stake.

Both of the parties will co-develop 2.9 square kilometers of land, which is part of China Merchants’ 3.9-square-kilometer logistic parks in Qianhai Bay.

China Merchants Shekou Holdings Company was listed in 2015. Its business focuses are on the cruise industry, industrial parks and community development and operation.

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2016-09-23 10:01:00

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