Sunnylife Global, Inc. announced that it received formal approvals from the People's Republic of China for establishment of the Sino-U.S. Joint Venture with Shandong Luyin Pharmaceutical Company.

The approvals were issued in the forms of a Corporate Business License to operate the Sino-U.S. Joint Venture to produce medicinal products for sale in China and a Certificate of Approval for the Establishment of Enterprises with Foreign Investment in the People's Republic of China. The approvals were issued for 50 years to the year 2056.

The newly formed Shandong Province Joint Venture Corporation is now expected to apply for listing in China. Under the terms of the 50-year agreements, Sunnylife Global, Inc. will own 58% of the total investment, currently valued at US$12.5 million (RMB 99.8 million).

Source:佚名