THE largest container manufacturing company in northeastern China was officially opened yesterday in Liaoning.
Located in Dalian - one of Liaoning's major industrial cities and one of the fastest developing areas in China - the Dalian Jindo Container Co is a joint venture between South Korea, China and Hong Kong.
The venture has a total investment of US$18 million. Dalian Jindo has paid-in capital of $9 million, of which 48 per cent comes from Jindo Corp, a Korean conglomerate with 15 years' history of container production.
China's EAS International Transportation, a nationwide air cargo, ocean freight and trucking company, has put in $2.7 million, 30 per cent of the paid-in capital.
The third partner, Hong Kong's Yau Wing, has invested $1.98 million, about 22 per cent.
Henry Fok Ying-tung, chairman of Dalian Jindo and Hong Kong's Yau Wing, said at yesterday's opening ceremony that Dalian Jindo was Yau Wing's second container investment in China. The first, in Guangzhou, was also a joint venture with Jindo Corp.
''The Dalian Jindo venture comes after Guangzhou's because Guangzhou was first in implementing market economy reforms. But Dalian has its advantages, with lower land prices, lower wages and certain preferential treatment,'' Mr Fok said.