Jiangsu Overseas Enterprise Group Co., Ltd. (JOC) is a wholly state-owned company approved by the Jiangsu Provincial People's Government in 1995. It is a large-scale first-class enterprise with a registered capital of RMB 500 million. In 1996, it was listed as a key enterprise group in Jiangsu Province. Authorized by the provincial government, the group company has the functions of investment, operation and management of state-owned assets within the authorized scope. After continuous development and growth, the group has grown to an annual turnover of over 12 billion yuan, total import and export volume of nearly 2 billion US dollars, total assets of over 8.8 billion yuan, and net assets of over 2.3 billion yuan. It integrates import and export trade, industrial investment, and modern services. It is a comprehensive investment group integrating industry and overseas investment. JOC is the largest enterprise in Jiangsu that has both large-scale international trade and a large number of domestic and foreign investments. The group has a 50,000-ton liquid chemical terminal and a 520,000-cubic-meter liquid chemical tank farm in Taizhou and Jiangyin in the lower reaches of the Yangtze River. Base; JOC is one of the largest pet products exporters in China, with its own brand Sinopet (Chongbaofang) series products. At present, the group has 12 wholly-owned or controlled production enterprises in China, and some joint-stock enterprises; the group has 7 overseas institutions in Hong Kong, India, the United States, South Africa, Belgium, Australia, Macau, etc. Tanzania has established 4 textile and garment production bases, with more than 2,000 employees in overseas enterprises.