Zhongfu Straits (Pingtan) Development Company Limited (China)

Zhongfu Straits (Pingtan) Development Company Limited is located in Fuzhou. The company was established in an unspecified date and has a diverse range of business areas, including seed breeding, afforestation, timber processing and sales, landscaping, pawnbroking and microloans, and infrastructure construction. The company focuses on the cultivation and development of forest resources and has formed an integrated "large forestry" pattern that includes seed breeding, tree planting, timber processing, and landscape design and construction. Additionally, the company takes advantage of its location in the western coastal area and actively seeks new development opportunities. In March 2011, the State Council officially approved the "Development Plan for the Western Coast Economic Zone," elevating the development of the western coastal area from a regional strategy to a national strategy. This provided unprecedented strategic opportunities for the accelerated development of Pingtan, which is located at the forefront of the western coastal area. To seize the historical opportunity of Pingtan's development and achieve strategic transformation, the company's leadership made decisive decisions and identified participation in Pingtan's development as a new strategic focus. The company received strong support from the Pingtan Comprehensive Experimental Zone Management Committee. In September of the same year, the committee and the company signed a "Cooperation Framework Agreement," providing support and services for the company's projects in the experimental zone, such as landscaping and infrastructure construction, and granting the company the most favorable policies and tax benefits within the policy scope. On December 15, 2011, the National Development and Reform Commission officially issued the "Overall Development Plan for the Pingtan Comprehensive Experimental Zone," approving the full opening of the entire island of Pingtan and granting more favorable policies to the Pingtan Comprehensive Experimental Zone in terms of customs clearance mode, financial and tax support, investment access, financial insurance, cross-strait cooperation, and land support.