Home>>Business
Last updated at: (Beijing Time) Wednesday, July 09, 2003

Largest Cable Producer Founded in NW. China

A joint venture cable enterprise, claimed to be the largest in China, was founded Tuesday in ChangjiCity, in the northwestern Xinjiang Uygur Autonomous Region.


PRINT DISCUSSION CHINESE SEND TO FRIEND


A joint venture cable enterprise, claimed to be the largest in China, was founded Tuesday in ChangjiCity, in the northwestern Xinjiang Uygur Autonomous Region.

Xinjiang Tebian Electric Apparatus Stock Co., Ltd. (Tebian Electric) and Shandong Luneng Taishan Cable Co., Ltd. (Shandong Cable), two leading electric cable producers in China, signed the agreement Tuesday to jointly invest 360 million yuan (43.53 million US dollars) in the joint venture.

Tebian Electric holds a 75 percent stake in the company with a 270-million-yuan investment.

The new company is expected to achieve annual sales of two billion yuan (241.84 million US dollars) this year and five billion yuan in three years, said Zhang Xin, chairman of Tebian Electric.


Questions?Comments? Click here
    Advanced








 


Tripod Set Up in Deng's Hometown to Commemorate Anniversary of His Birth ( 3 Messages)

Chinese Regard Haphazard Spitting as most Disgusting Habit ( 3 Messages)

Chinese Mainland, HK Vows to Forge Closer Economic Ties ( 3 Messages)

Hu Jintao Addresses Symposium on "Three Represents" ( 3 Messages)

BBC, Downing Street Dispute over Weapon Dossier ( 3 Messages)



Copyright by People's Daily Online, all rights reserved