06 January 1999
China liberalisation boosts feed firm

CHINAS decision to allow 20 private companies to engage directly in foreign trade will benefit the countrys largest animal feed producer.

Private companies such as the New Hope Group have previously been allowed to import and export only through state-run trading houses.

The chairman of the New Hope Group says the new arrangement will mean his company will no longer have to pay the trading company 0.5% of the cargos value.

It will also not suffer from the bureaucracy involved in the previous arrangement.

  • The Times 06/01/99 page
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