CHINA: Details Of New Textile Joint Venture Announced

A new China-based joint venture for the manufacture and sale of textiles has been announced between Hong Kong-based Co-Union, a subsidiary of Yangtzekiang Garment Manufacturing Company, and China's Wuxi No.1. The pair have agreed have agreed to invest $3.6 million and $8.4m in the joint venture, respectively, Yangzekiang directors said in a statement on Thursday.