The electronic wastes GEM deals with annually at the moment account for 15 percent of the country's total. The percentage will reach 20 in the next five years, Xu said.
"The company plans to inject 6 billion yuan to expand its recycling capability in the next five years," he said.
GEM's goal is to create an annual output value of 30 billion yuan and obtain annual profits of more than 1.5 billion yuan through the heavy investment, Xu added.
"The cooperation with Shanghai Yueyi Network will be a powerful measure to help it reach the five-year project," Xu said. The website will send about 10,000 second-hand mobile phones to GEM every month.
Chen said Yueyi Network will create an innovative online recycling system by cooperating with shopping malls, entertainment facilities, McDonald's, KFC and Costa Coffee to recycle 10 million second-hand cell phones and 10 million pieces of waste batteries annually.
"Our business will extend into recycling second-hand home appliances, computers, laptops and even scrapped vehicles," Chen said.
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