YUE Yuen Industrial Holdings has obtained a retail licence allowing it to sell its footwear products manufactured in China throughout the country. Speaking after the company's annual general meeting yesterday, managing director Choi Kwok-keung said the licence would be held by its joint-venture company. The joint venture is owned 70 per cent by Yue Yuen's 50 per cent associate Pou Yuen Industrial Holdings and 30 per cent by a Guangdong import and export firm. Pou Yuen is an equal joint venture between Yue Yuen and Pou Chen Corp of Taiwan, which claims to be the largest footwear manufacturer in Taiwan. Yue Yuen will hold an effective interest of 35 per cent in the joint venture responsible for distributing footwear products in China. ''We're now in the process of securing selling points in the Pearl River delta area. They could be shops, counters and wholesale centres,'' Mr Choi said. He said Yue Yuen had been appointed as sole agent to distribute sport shoes under the US brand Converse on the mainland. The company is allowed to distribute in China 30 per cent of its products manufactured there, which means 450,000 pairs of shoes could be sold a month based on a monthly output of 1.5 million pairs. Mr Choi said the output would be increased to two million pairs by the end of this year, following the completion of its Zhongshan factory. It has two other factories, in Dongguan and Zhuhai. Meanwhile, shareholders yesterday approved the replacement of company chairman Tsai Chi-jen by current vice-chairman Tsai Chi-neng.