Zhang Jie, the Chairman of China Hi-Tech Group Corporation （CHTC）, announced at the ShanghaiTEX on 15 June 2011 that China Hi-Tech Group has successfully completed its acquisition of the controlling shareholding in Fong＇s Industries Co. Ltd. recently. Through the acquisition, it enables China Hi-Tech Group to further strengthen its business and operation modes within the textile machinery industry. And it intensifies its strength in improving the competitiveness of the whole Chinese textiles industry in the international markets as well.