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More foreign investors tap distribution industry
23/8/2006 16:47

Wendy Zhang/ Shanghai Daily news

More than 600 foreign-invested companies got the green light to establish distribution firms in Shanghai this year, thanks to the opening of the Chinese distribution industry to foreign investors.

At the end of 2004, the Chinese government decided to open the distribution industry according to its WTO commitment, with no restrictions on foreign investors to enter the sector. Last year, more than 380 foreign-invested distribution companies were allowed to launch in Shanghai, whereas before that, around 10 of these companies were in the city.

The Japan-based Fujitsu Limited and the Shanghai Rongheng International Trading Corp. (a subsidiary of Oriental International Group) have jointly established a distribution company in the city recently, with the Japanese side holding 85 percent of the shares.