On the afternoon of May 27, mayor Wang Weicheng met with finance minister of Tanzania in Changzhou administration center to discuss the asset restructuring of FTC.

FTC is a joint venture of Tanzania Finance Ministry and Changzhou Textile State-owned Assets Management Co., Ltd. Since the establishment, it has achieved favorable social and economic benefits. However, due to the global economic crisis, FTC is facing severe challenge.

At this meeting, Tanzania Finance Ministry, Changzhou government, Changzhou Textile State-owned Assets Management Co., Ltd., and the potential investor Zhejiang Yuemei Group discussed the assets restructuring issues and the new cooperation mode and feasibility.

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