China Treasure in JV discussons with US high-tech firms; R&D money going into telecommunications.ORLANDO, Fla.--(BUSINESS WIRE)--Sept. 27, 1995--China Treasure Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CHNA CHNA Community Health Network Area CHNA Community Health Needs Assessment CHNA Canadian Holistic Nurses Association CHNA College Hill Neighborhood Association CHNA Castleberry Hill Neighborhood Association CHNA Converium Holdings North America ), said it is continuing discussions with US high-tech firms for joint ventures in China. Mak said: "Since we went public in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and with our having the People's Construction Bank of China as a partner, we have had the advantage of a lot of US high-tech firms contacting us to invest in China joint venture opportunities. "These companies are focusing on China Treasure for fundamental reasons. Our background and experience. Our existing track record. Our growth through acquisition of profitable companies with existing sales records. Our partners -- the People's Construction Bank of China -- and the government support we have. "China Treasure is like a bridge between the US high-tech community and the China market. We are in a very advantageous position which we hope to reap strong profits from." China Treasure, which is building the $2.5 billion Sun City project, recently acquired controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in Chengdu Iron & Steel and announced its intention to enter the telecommunications business in China. Mak said: "We have allotted al·lot tr.v. al·lot·ted, al·lot·ting, al·lots 1. To parcel out; distribute or apportion: allotting land to homesteaders; allot blame. 2. most of our R&D money towards the electronics sector, the telecommunications industry. That is why we welcome the high tech companies in the United States to enter into technical and capital joint ventures with us as we move into the vast China telecommunications field. "We have to act quickly because the telecommunications business is going to open and expand rapidly in the near future. We intend to be a part of that market which is why I am in acquisition negotiations for a PRC telecommunications firm now." China Treasure Inc., is a Hong Kong-based real estate and infrastructure development company involved in the construction of Sun City, a planned development community in Guangdong Province Noun 1. Guangdong province - a province in southern China Guangdong, Kwangtung of the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. For more information, contact Thomas Tedrow, the Orlando spokerperson at 801/972-2887 or 407/645-0207. CONTACT: China Treasure Inc., Orlando Thomas Tedrow, 801/972-2887 or 407/645-0207 |
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