Taiwan-financed Retailer to Expand Business on Mainland

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Last updated at: (Beijing Time) Tuesday, January 14, 2003

Taiwan-financed Retailer to Expand Business on Mainland

Trust Mart Co. Ltd., a retailingventure partly financed by Shing-Taik Group of Taiwan, is expectedto expand its business into logistics this year.

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Trust Mart Co. Ltd., a retailingventure partly financed by Shing-Taik Group of Taiwan, is expectedto expand its business into logistics this year.

John Yu, chairman of the board of Trust Mart Co. Ltd., a joint venture between the Taiwan firm and companies of the Chinese mainland, said his venture would pump in somewhere from 300 million yuan (about 36.15 million US dollars) to 500 million yuan (60.24 million US dollars) for starting up a logistics arm in Guangzhou, capital of south China's Guangdong province, in 2003.

"We will develop a logistics platform following the methods of the corporate procurement headquarters and help suppliers reduce logistics cost," said Yu.

Trust Mart Co. Ltd. has so far opened 27 subsidiaries on the Chinese mainland, with more than 30,000 employees. The subsidiaries scored approximately 8 billion yuan (about 964 million US dollars) in sales and paid one billion yuan (some 121 million US dollars) in taxes last year.

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