Oceanus

Oceanus: Xinhua News says the eastern coastal Chinese city of Wenzhou has banned government banquets from serving shark fin, abalone, wild ginseng and premium liquor such as Moutai to reduce spending, citing Lin Zhanxiao, a director at the city’s discipline inspection commission. Highlights that spending has been limited to Rmb 60 per official attending govt receptions. Oceanus is involved in abalone processing and distribution, with substantially all its operations and assets located in China. Its abalones farms are also located along the coastal lines of Fujian and Guangdong provinces.