DPRK biz opportunities luring China's entrepreneurs.

(From Business Daily Update)

Author: x The Democratic People's Republic of Korea (DPRK) is emerging as a hotbed for China's increasing investments overseas. "DPRK provides big market potential for Chinese products ... while Chinese investors have tremendous advantages in tapping the market," said Tian Hairui, a senior manager with Beijing Chaohua Youlian (CHYL) Cultural Exchange Co Ltd. CHYL is authorized by DPRK's Ministry of Foreign Trade and National Tourism Administration to facilitate investments and tourism between the nations. A growing number of Chinese companies have invested in DPRK in the past two years, since the socialist country adopted its market-oriented reform and opening policies. Last month, Shenyang Zhongxu Group, a trading firm operated by Wenzhou-based merchants, signed a contract with DPRK's authorities to operate the No 1 Department Store of Pyongyang. The deal costs an estimated 50 million yuan (US$6.04 million). That has been the single …