The Chinese company, Taijin Jasmin Fund Management Corporation has signed an agreement with the French Polynesian president, Oscar Temaru to set up a Hong Kong-based joint venture aquaculture company. According to Radio New Zealand International, Mr Temaru said the Taijin Jasmin Fund Management Corporation is prepared to invest US$ 100 million a year over 15 years to expand the fishing potential around Hao atoll, a large coral atoll in the central part of the Tuamotu Archipelago, some 575 miles east of Tahiti. Local newspaper, Nouvelles de Tahiti, said the Chinese partners plan to invest huge sums into research and hatcheries.