CAQ Holdings Limited announced that it has executed a joint venture agreement with diversified leisure and industry group, Mission Hills to jointly develop a cross- border e-commerce business in China. Mission Hills is recognised as the most innovative hospitality and leisure enterprise in China and the Asian Pacific region. Under the terms of the joint venture CAQ Finance (HK) Limited, a wholly owned subsidiary of CAQ, and Hainan Xunhao Business Management Company Limited, a wholly owned subsidiary of Mission Hills, will establish a special purpose company, Hainan Whale Trading International Company Limited, proposed name subject to final approval by the government, on a 50/50 equity basis. The parties will work together to develop the online cross-border e-commerce platforms and offline cross-border e-commerce experience outlets. Outlets will focus on the expanding tourist centre of Hainan Island. Whale Trading will make use of the strengths of both parties in developing online and offline e-commerce retail business. Initial outlets, to be rolled out over a three-year period, will be located within the Haikou Integrated Free Trade Zone, Mission Hills New City, Haikou and Sanya. All locations are situated on Hainan Island.