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Hainan Development Holdings to establish JV with Xiamen ITG Group

November 22, 2018


Abstract : Hainan Development Holdings Co., Ltd had signed an agreement with Xiamen ITG Group on Wednesday on setting up a joint venture to promote the development of service trade in Hainan province and support the construction of Hainan Free Trade Zone.

BEIJING, Nov. 22 (Xinhua) -- Hainan Development Holdings Co., Ltd had signed an agreement with Xiamen ITG Group Corp., Ltd. on Wednesday on setting up a joint venture (JV) to promote the development of service trade in Hainan province and support the construction of Hainan Free Trade Zone (FTZ).

Under the agreement, the JV will be located in Haikou, capital city of south China’s Hainan Province, which will rely on the development advantages of Xiamen ITG Group in the international trade field and geographical advantages of Hainan Development Holdings to integrate service trade resources in the province and build itself into an operation platform on foreign trade and supply chains.

Founded in 1980, Xiamen ITG Group Corp., Ltd was listed on Shanghai Stock Exchange in 1996. Hainan Development Holdings Co., Ltd is a wholly state-owned company approved by the Hainan provincial government. (Edited by Ma Xin, maxin11@xinhua.org)

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Keyword: JV Hainan-FTZ free-trade

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