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2007-5-25 08:32:00 a.m. HKT, XFNA
Shougang Group, China Film in 400 mln yuan distribution tie-up - report
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BEIJING (XFN-ASIA) - Shougang Group, the controlling shareholder of
Global Digital Creations Holdings Ltd, has agreed to tie up with China Film
Group to promote digital film distribution in China, the South China Morning
Post reported, citing Shougang assistant president Cao Zhong.
Shougang will have a 49 pct stake in the joint venture, which will have a
registered capital of up to 400 mln yuan, while state-owned film producer and
distributor China Film will take the remainder, the Hong Kong newspaper
reported.
The cooperation hopes to sell 700 to 1,000 digital projector systems in
China this year and at least 2,000 units next year, Cao was quoted as saying.
(1 usd = 7.65 yuan)
andrew.pasek@xinhuafinance.com xfnap/xfnms
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