The new JV company will have a registered share capital of RMB3 million ($620,473).
Zhongmin Baihui, through its wholly-owned subsidiary, Zhongmin Baihui (China), has signed an agreement to form a joint venture (JV) company with Mingfa Group Anhui Jinzhai City Development on April 30.
According to a statement put out by Zhongmin Baihui on June 9, it will have a 20% stake in the new JV, while Mingfa Group will own 80% of the new JV company.
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