Several days ago, Gold HongYe (GHY) Paper Group managed to merger Gold HongYe (GHY) Paper Group (Wuhan) Co., Ltd. with the cooperation of foreign merchant approval authorities at the provincial, municipal and district levels. The new company has been announced according to legal procedures on Hubei Daily. This is the first successful case where a foreign-funded enterprise is merged.
After merger of the company, the total investment will be increased from the previous RMB 859,232,600 to RMB 886,922,600. The registered capital will be increased from the previous RMB 454 million to 474 million. The production will be increased from existing output of 100,000 t/a to 180,000 t/a. Sales will receive a growth year by year. All these will make great contributions to the economic development of Xiaogan.