Bright takes over Fisheries in reform of Shanghai SOEs

The Shanghai municipal government announced a fresh round of reform and restructuring of local State-owned enterprises on Thursday.

As part of the reform, Bright Food (Group) Co Ltd will absorb Shanghai Fisheries Group Co Ltd. Shanghai Fisheries will thus become a wholly owned subsidiary of Bright Food.

It will retain its distinct identity though and continue to focus on deep sea fishing as well as intensive processing of, and trading in, aquatic products.