Carabao Tawandang Co, Thailand's second largest energy drink manufacturer announced to move its China's operating headquarters to Pingtan, Fujian province on Jan 21, local news portal ptnet.cn reported.

On the day, it also signed a cooperation agreement with the Beijing Youbao Yangguang Technology Co and got an order of 48 million yuan ($7.3 million).

Chen Chao, chief operating officer of Carabao Pingtan said that locating the headquarters in Pingtan is due to the county's preferential policies and status as an experimental zone for cross-Straits cooperation.

Those advantages will be conducive to the company's plan to develop Taiwan's and South Asia's drink market, added Chen.

Chen also mentioned that the company plans to expand presence in China by developing 300 dealers in 200 regions of 15 China's provinces and cities in the coming year. Its sales volume is expected to exceed 300 million yuan in 2016.

Chen Fuwen, chairman of Carabao Pingtan hoped that the company will get listed in China through their hard work.

Establish in 2002, the Carabao Tawandang Co is a joint venture of Carabao, a popular band in Thailand and the Tawandang German Brewery, a famous restaurant in the country. The company started entering the Chinese market in 2012.