Zhejiang Entrepreneur Wang Yuanwan Starting Equity Contribut

           The Industrial and Commercial Administration of Zhejiang Province has made Zhoushan as the pilot place for innovation and cooperation on equity contributions and pledging and value evaluation with sea area use right, presently, tentative measures for sea area use right circulation management are being worked out, to speed up the construction of transaction platform and encourage level II market transaction, to further realize the resources and assets operation of sea area use right. After the official implementation of “Tentative measures for registration management of sea area use right equity contribution company in Zhoushan”, the first sea area use right equity contributor was born in Zhoushan. Louis Dreyfus Zall Energy Co., Ltd. owned by Zhejiang entrepreneur Wang Yuanwan evaluated the sea area use right of 293,400 square meters at a value of 100.95 million yuan, to increase its registered capital to 1.057 billion yuan, and it obtained the new industrial and commercial business license recently. According to sources, this is the first sea area use right equity contribution enterprise in Zhejiang Province. Zhoushan has recently been designated by the Industrial and Commercial Administration of Zhejiang Province as the pilot place for innovation and cooperation on equity contributions and pledging and value evaluation with sea area use right, to further activate the sea area use right, extend forms of equity contributions and push forward development of sea-related enterprises. “It is a very good new for sea-related enterprises like ours to be able to make equity contributions with sea area use right”. According to Wang Yuanwan, the leader of Louis Dreyfus Zall Energy Co., Ltd., the Company, as a sea-related enterprise has quite lot of sea area use right, but it could not turn the sea area use right into capital like enterprises with land use right for a long time, now the policy to make equity contributions with sea area use right in Zhoushan has turned their years of hope into reality.