On August 30, the Goldman Sachs Group, Inc, a US company, signed a contract with Miqia Hongshi Holding Group Limited, a Chinese concrete manufacturer, giving the former 25 percent of Migia's shares at a cost of US$80 million.

 

In recent years, foreign ventures have been a common occurrence on the Chinese concrete market. Morgan Stanley even reached an agreement with China's Conch Cement Group in December 2005, buying 13,200 shares of the group's holding enterprise, Conch Cement Company Limited.

For more details, please read the full story in Chinese. ( http://www.china-cbn.com/s/n/000004/20070831/020000054451.shtml)

(China.org.cn August 31 2007)