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Chongqing Tea Group Are to Start its Business in May

08-26-2005

The plan of forming Chongqing Tea Co. Ltd. is recently approved by the Municipal Government. This company will probably start its business in May.
It is said that the corporation is invested and regrouped by: the Yunling Tea Science and Technology Co. Ltd. under the Chongqing Tea Research Institution with an investment of 6.7 million yuan, the Xinsheng Industrial Co. Ltd., 5.5 million yuan, the municipal Publication Station of Economic Crops and Technologies, 2.5 million yuan, and the Ersheng Tea Co. Ltd., 15.3 million yuan.
The former three state-owned companies will still remain their original independence while the latter one, an enterprise run by the local people which provides the new company with more than half of the total investment, will be entirely incorporated into the new group company.
An officer from the Municipal Agriculture Bureau said when interviewed by the reporter that the grouping of the Tea Corporation Limited was to enlarge and strengthen the tea industry of Chongqing. Most of the present tea enterprises in Chongqing are small collective plants with limited abilities. They are not good at packaging, trademark registration and marketing network construction. The four shareholders of the new corporation stand for the present highest level of Chongqing's tea industries. For example, the Chongqing Tea Research Institution and the municipal Publication Station of Economic Crops and Technologies have their advantages in the research and production of tea, and the three tea companies, Yunling, Xinsheng and Ersheng, are good at tea managing and marketing with their respective tea manufacturing bases, tea plants, top-grade teas and sale channels.
It is said that after the regrouped Chongqing Tea Co. Ltd. will be a tea plant which covers thirteen thousand mu and will become a nationwide famous enterprise of raw materials for tea.

   

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