Brightoil Petroleum (Holdings) Ltd
BRIGHTOIL: Policy Change Allowing 100% Foreign Ownership in E-commerce Businesses, Creates Tremendous Opportunities for Brightoil’s Future Growth
[For Immediate Release] Policy Change Allowing 100% Foreign Ownership in E-commerce Businesses (22 June 2015 – Hong Kong) Brightoil Petroleum (Holdings) Limited (“Brightoil Petroleum” or the “Group”; stock code: 933.HK) believes that the Group is in good timing for establishing an e-commerce company in Qianhai, Shenzhen as the Ministry of Industry and Information Technology announced on Friday a policy change to lift foreign shareholding percentage limits and allow 100% foreign ownership in operational e-commerce businesses throughout China. The removal of foreign ownership limits by the Chinese government provides the Group with strong policy support and enormous opportunities to consolidate its domestic and foreign resources advantages and drives the rapid expansion of its e-commerce business. The Ministry of Industry and Information Technology announced on 19 June 2015 that in order to promote e-commerce business development in China, encourage active participation, provide guidance for foreign investments and further boost market competition, the foreign shareholding percentage restrictions on the operational e-commerce business would be lifted throughout the country. As a result, the foreign ownership can reach 100%. This policy became effective on the day of its announcement. -End-
For additional information about Brightoil Petroleum, please visit the Company’s website at www.brightoil.com.hk. Press Release distributed by: Brightoil Petroleum (Holdings) Limited For media enquiry, please contact: Hill+Knowlton Strategies Asia Fax: (852) 2576 1990 End of Press Release +++++ Document: http://n.equitystory.com/c/fncls.ssp?u=XKTCRGHJCW Document title: Policy Change Allowing 100% Foreign Ownership in E-commerce Businesses, Creates Tremendous Opportunities for Brightoil’s Future Growth Key word(s): Miscellaneous 23/06/2015 UTC+8 Dissemination of a Press Release, transmitted by EQS TodayIR – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. Media archive at www.todayir.com |
370805 23/06/2015 UTC+8 |