Zhejiang Becomes Limited Liability Company

Source from:  tr.itsmyiq.com Dec 6, 2007 12/07/2007

The Zhejiang Provincial China Tobacco Industry Corp, which is responsible for tobacco manufacturing in China's Zhejiang province, has become the limited liability company, Zhejiang Provincial China Tobacco Industry Co. Ltd. (ZPCTI), according to a Tobacco China Online report quoting the Zhejiang Daily. The ZPCTI is the fourth provincial-level tobacco manufacturing enterprise in China to become a limited company under the current round of State Tobacco Monopoly Administration reforms. The move follows the merger in September last year of the former Zhejiang Provincial China Tobacco Industry Corp and the Hangzhou and Ningbo cigarette factories. Between January and October, the ZPCTI produced 78.9 billion cigarettes, up by 10.6 per cent on its January-October 2006 production level. Its sales, at 79.1 billion cigarettes, were up by 13.0 per cent, and its taxes and profits, at Yuan13.67 billion, were up by 23.4 per cent. Enditem