The new company, located in Dalian, Liaoning province, has a registered capital of RMB4.5bn. Liaoning Port Group, China Merchants Shekou and China Merchants Port hold the stake equity of 55.56%, 22.22% and 22.22% respectively.
When the new company established, it will jointly set up China Merchants Taipingwan New District Development Company with the investment platforms of Liaoning provincial government and Dalian municipal government to develop and operate projects in Taipinwan new district in Dalian.
The development and investment unit will be engaged in investment and assets management, infrastructure facility construction and investment, project investment, management and operation.
The establishment of the new company is aimed at helping China Merchants Port to acquire new strategic development opportunity and optimize its business layout, which will also be benefit to strengthen Liaoning free trade zone development and cross-board cooperation for China-Japan-South Korea.
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