Merger to form trading giant

China National Technology Import and Export Corp and three other trading firms have won preliminary government approval to merge into a huge trading company. The China Daily Business Weekly reported yesterday the December merger would create a company with annual trade volume of more than US$7 billion. The merger, involving China National Machinery Import and Export Corp, China National Instrument Import and Export Corp and China National Corp for Overseas Economic Co-operation, would create China's biggest trading house after giant Sinochem, it said.