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China National Fisheries (Group) Corporation (CNFC) is China’s most capable, comprehensive, and large state-owned enterprise in fisheries industry. CNFC now has 17 wholly-owned enterprises, including 4 companies specialized in marine fishing, 6 specialized in fishing industry (fishing vessel building, fishing machine and equipment manufacturing), 4 specialized in fisheries trades and one specialized in harbor engineering. In addition, CNFC possesses 1 holding company which is a listed company, ten odd holding and shareholding companies, and 100 cooperative enterprises of different forms. At domestic, CNFC has 110 third-grade companies; at abroad, CNFC has more than 50 subsidiaries or representative offices. The business scopes of these companies mainly cover marine fishing, aquiculture, fish product processing, trade, fishing boat building, fishing equipment manufacturing, steel rope and net manufacturing, harbor construction, international economic cooperation and export of labor service. The wholly owned enterprises of CNFC are mainly distributed along 8 coastal provinces or cities. CNFC’s holding, shareholding and cooperative companies are located in more than 20 provinces or cities in China. CNFC’s subsidiaries or representative offices at abroad are located around more tan thirty coastal countries or regions along the three oceans. By the end of 2002, CNFC has 20,000 employees, with total assets of RMB 7.7 billion of which the net assets account to RMB 2.56