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Aeolus Tire sets up two subsidiaries abroad

On July 25, Aeolus Tire announced that it plans to set up two wholly-controlled subsidiaries in Russia and Canada.

The two companies would deal with tire trade and sale in Moscow and Toronto.

The company said to promote cooperation and communication with international market, it sets up two overseas subsidiaries to strengthen international competition.

Due to different law system, business environment and policy rules, the company said it needs to be familiar with local business culture and law system.

Besides, the investment still need to be approved by China's National Development and Reform Commission and Ministry of Commerce.