Zhongmin Baihui (China) and Mingfa (Longhai) will have shareholdings of 30% and 70%, respectively, in the JV company, which has a registered share capital of RMB18 million ($3.8 million).
Zhongmin Baihui Retail Group has partnered Mingfa (Longhai) Real Estate to operate a retail space in a mall.
This comes after the retail company’s wholly owned subsidiary Zhongmin Baihui (China) Retail Group and Mingfa (Longhai) signed an agreement on July 26 to establish a JV company.
