Business In Asia Today | August 15, 2000

BEIJING - Twenty-six enterprises and units have signed a contract in Urumqi, the capital of Northwest China's Xinjiang Uygur Autonomous Region, to set up a cotton industrial development company capitalised at $US72.4 million (600 million yuan). The company is the result of reforms to the cotton distribution system and the perceived advantages of Xinjiang as a cotton production base. The 26-member company includes cotton and ramie companies of Jinghe, Shihezi, Wusu, Kuerle and Tulufan, Xinjinag Tianshan Textile Co., Ltd., Xinjiang Textile Group, the State Cotton Engineering Technological Center, Zhongfang Cotton Import and Export Company, Zhejiang Special Products Company and the Zhonghua Cotton Company.