Caijin Investment Co., Ltd. in Guangrao county, Shandong province, signed fund investment framework agreements on Dec. 22, 2017 with 20 companies, including some tire producers, such as Xingshengyuan Tire Co., Ltd., Shandong Zhongyi Rubber Co., Ltd., and Shandong Guofeng Rubber Co., Ltd.
Tire-related companies, such as Shandong Best Chemical Co., Ltd. and Better Wheel Co., Ltd., are also among them.
Chen Weisong, deputy secretary of CPC in Guangrao, emphasized that enterprises should strengthen the awareness of compliance, increase mutual benefit and mutual trust between enterprises and banks, and expand the channel of cooperation.
Xingshengyuan Tire is former Shengtai Group Co., Ltd.
Shengtai was trapped in cash shortage early 2017 and stopped production of all-steel tires.
With the help of Guangrao county, Xingyuan Tire was asked to manage Shengtai Group.
