Hitachi (China), Ltd. announced that a wholly foreign-funded trade company has been established under Hitachi High-Technologies in east China's Shanghai, a move that enables the company to first acquire the rights of sales and trade on China's mainland. The new company is also the first wholly foreign-funded trade company on China's mainland.

Sources say Hitachi High-Technologies is dedicated to trade under the corporation of Hitachi. It has a solely-funded subsidiary in Hong Kong. The application by the Hong Kong-based company led to the approval from China's Ministry of Commerce on May 12, 2005 that a company of such kind be established on the mainland.

By People's Daily Online