CRC of China to Set Up Medical Radiation Technology R&D Center in Taiwan

Taipei, March 10, 2011 (CENS)--China Resources (Holdings) Co., Ltd. (CRC), one of the leading conglomerates in Hong Kong and the Mainland China, is expected to sign a cooperation agreement with a medical partner in Taiwan to jointly develop high-level Medical Radiation Technology (MRT) business.

CRC plans to invest about US$40 million in the venture and set up a R&D center in Taiwan.

CRC chairman Song Lin said that the cooperation project is expected to be finalized in March. As a leader in retail sales in China, CRC is also considering establishing a procurement center in Taiwan to directly purchase and deliver agricultural, processed agricultural, and other consumer products from Taiwan to its sales channels in China. CRC is expected to be the third Chinese enterprise expressing willingness to set up a procurement center in Taiwan.

According to Song, Taiwan's agricultural products have been quite famous in China and his group wants to directly import the products from the island for sales in mainland China.

CRC's business scopes cover retail, power, breweries, real estate, food, medicine, textiles, chemical products, gas, compressor etc., and as of September 2009, the conglomerate had invested 400 billion renminbi (RMB, or Chinese yuan) in China. In 2010, CRC was the largest retailer in China with revenue hitting 70 billion RMBs.