China sets up firms on island in disputed South China sea
Two companies have been established in Sansha, China`s newest city on an island in the disputed South China Sea.
Beijing: Two companies have been established in Sansha, China`s newest city on an island in the disputed South China Sea.
Two companies have been established and registered in Sansha and authorities are expecting more investors and businesses to follow, reported China Daily.
Hainan Sansha Construction and Engineering was established Aug 23 while Sansha Hainan Airlines Tourism Investment was founded Sep 6.
Both were registered with Hainan province`s industrial and commercial administration, which will approve applications for businesses until the city sets up its commerce authority, Hainan Daily reported.
In July, Sansha was established to administer more than 200 islets, sandbanks and reefs in the Xisha, Zhongsha and Nansha islands, and 2 million square km of surrounding waters.
The city of Sansha on Yongxing island is in the southernmost province of Hainan.
China claims sovereignty over the South China Sea and contests Vietnamese claims to two strategic islands and its exclusive economic zones.