BRIEF-Ground International Development says to establish a joint venture company in PRC

March 31 (Reuters) - Ground International Development


* It is proposed that company and possible jv partners are

to establish a joint venture company in prc

* Registered capital of jv company is initially set as

rmb100 million

* It is proposed that jv company will be owned beneficially

as to 80% by company and as to 20% by possible jv partners

* JV company will be principally engaged in development of a

cultural-tourism project in nanchang

* Co entered into a non-legally binding memorandum of

understanding with jiangxi shengshuitang cultural tourism


* Upon establishment, jv company will become a non-wholly

owned subsidiary of company

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