Chinese aquaculture firm pledges to invest USD 70 million in Vanuatu

A leading Chinese aquaculture company has signed an agreement to build an integrated fish-farming facility in Vanuatu, continuing a long line of recent diplomatic efforts China has made with Pacific Island nations to expand its influence in the region. Under the terms of the deal, Chengmai, Hainan-based Hainan Xiangtai Fishery Company will invest CNY 500 million (USD 70 million, EUR 65 million) in partnership with local firm Mata’ariki Investment Holdings to build and facilitate fishery…