Talks take place between representatives of the two companies. [Photo/guiyang.gov.cn]
Representatives from paperboard packaging materials manufacturer Shanying International Co Ltd and Guiyang Agricultural Investment Development Co (GAID), a State-owned agricultural company, visited the Guiyang Free Trade Zone – located in Guiyang, capital city of Southwest China's Guizhou province – on July 16.
They visited Guizhou Xiangheng Packaging Co and learned about its phase one of primary production facilities and phase two involving the construction of a comprehensive workshop. Afterwards, a meeting was held on its future prospects and social responsibilities.
The company is being established with an investment totaling 500 million yuan ($77.25 million). After completion, it is expected to generate 500 million yuan in gross sales and 30 million yuan on average in annual profits.
The establishment of such company is widely seen as being a mirror promoting the strength of the local economy.
Since its construction started last December, phase two reportedly finished equipment installation as of end-June, with the start of production scheduled for August 30.
During the meeting, Wu Mingwu, chairman of Shanying International said he hoped that the cooperation between two companies would help foster the standardization and marketing of Guizhou's agricultural products and help them go global.
Moving forwards, plans are for the zone to improve its business environment and provide streamlined services.