Annual Report 2019

235 ANNUAL REPORT 2019 46. PARTICULARS OF PRINCIPAL JOINT VENTURES Name of joint venture Issued capital/ registered capital Proportion of effective ownership interest held by the Company indirectly Principal activities 2019 2018 % % Euro-Asia Oceangate S.àr.l. US$940,141,587.60 40.00 40.00 Ports and container terminal business Ningbo Daxie China Merchants International Terminals Co., Ltd. (Note (a)) RMB1,209,090,000 45.00 45.00 Ports and container terminal business PONI Corporate Trust Group AUD118,087,000 50.00 50.00 Management of port operation and port development PONI Property Trust Group AUD550,103,000 50.00 50.00 Provision of finance for port operation and property investment Qingdao Port Dongjiakou Ore Terminal Co., Ltd. (Note (a)) RMB1,400,000,000 25.00 25.00 Ports and bulk cargo terminal business Qingdao Qianwan United Container Terminal Co., Ltd. RMB2,000,000,000 50.00 50.00 Ports and container terminal business Qingdao Qianwan West Port United Terminal Co., Ltd. RMB500,000,000 49.00 49.00 Ports and bulk cargo terminal business Zhanjiang Port (Group) Co., Ltd. (Note (a) and (b)) RMB4,020,690,955 N/A 40.29 Ports and container terminal business Notes: (a) Sino-foreign joint ventures. (b) Further details are set out in notes 23 and 45. Under the relevant shareholders’ agreement, decisions of relevant activities of the entities above require unanimous consent from relevant joint venture partner(s). Accordingly, neither the Group nor the other venture partners(s) has the ability to control the relevant entities unilaterally and each of the entity above is considered as jointly controlled by the Group and the relevant joint venture partner(s).