A new company specialising in the production of cotton socks and stockings has been set up in a joint venture between the Japan Atsugi Corporation Ltd and the Hong Kong-based China Resource Raw Materials Corporation Ltd. Called the Yantai Atsugi CRC Stocking Corporation Ltd, the new enterprise is based in the port city of Yantai, in Shandong Province, eastern China, and is the result of $28 million worth of investment.