CHINA> Special Reports
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CHINA> Special Reports
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Zhangzidao: New standards in oceanic aquiculture
By Han Tianyang (China Daily)
Updated: 2009-09-10 17:07 Technology innovation The fishery's capacity in innovation and laboratory work has been greatly enhanced through long-term cooperation with the Ocean University of China, the Chinese Academy of Fishery Sciences and the Institute of Oceanology at the Chinese Academy of Sciences. Their combined research has resulted in several new ways of cultivation, including multi-species seeding technology. The fishery disperses about 3 billion Yezo scallop seeds every year, as well as those for abalone, sea cucumbers, urchins and surf clams. International cooperation In 2003, Zhangzidao established the joint venture Dalian Xiangxiang Global Food Co Ltd with Japan's Sojitz Corp, a Fortune 500 company, to build the first ultra-low temperature tuna processing plant in northeast China. Its tuna now has 70 percent of the Chinese market.
Yutaka Kase, president and CEO of Sojitz, said he believes the deal will increase sales of seafood and create new food processing projects. Zhangzidao Fishery also does business with Japan's Maruha, the world's top fishery company. In 2008, the fishery took out a 100 million yuan insurance policy with China Fishery Mutual Insurance Association. Despite the ongoing financial crisis, its sales revenue in the first half of 2009 reached 540 million yuan, up 59 percent over the same period of 2008, resulting in profits of 47 million yuan, an increase of 21 percent.
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