China Sets up First Joint-stock Gold Firm

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Wednesday, July 05, 2000, updated at 09:10(GMT+8)

Business

China Sets up First Joint-stock Gold Firm

The first share-holding gold company in China has been set up in the bonded zone in this north China port city.

The China Gold Corporation has a dominant stake of 84 percent in the company, while the other six corporate share-holders hold the rest 16 percent shares.

With a registered capital of 180 million yuan and net assets of 275 million yuan, the company is expected to handle 2080 tons of gold-ore daily and realize more than 50 million yuan in profit this year.

The company is now building a new production line aimed at producing refined gold products to better cater to international as well as domestic need. To raise more funds, the company is applying for public offering.


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	The first share-holding gold company in China has been set up in the bonded zone in north China port city.




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