Jilin Jien Nickel Industry Co Ltd announced on October 11 that Jien International Investment Ltd., a wholly owned subsidiary in Canada, together with Jilin Horoc Nonferrous Metal Group Co Ltd, the company's controlling shareholder, planned to set up a joint venture in Hong Kong, which is named Horoc-Jien HK Investment Co Ltd.

The new company will be mainly engaged in investment and development of mineral resources. Jien International will hold 40% equities in the joint venture by providing USD 4 million fund while Horoc Group will hold 60% equities by giving USD 6 million money.

Besides, Jien International intended to invest USD 5 million in setting up a wholly owned subsidiary in Hong Kong named Jien International (Hong Kong) Trade Co Ltd. The subsidiary will launch businesses such as metals, non metals and their mineral products, spares and spare part trading.