The French Polynesian president, Oscar Temaru, says he has signed an agreement with a Chinese company to set up a joint venture in aquaculture.
Mr Temaru has revealed that talks have been held with the Taijin Jasmin Fund Management Corporation which he says is prepared to invest 100 million US dollars a year over 15 years to expand the fishing potential around Hao atoll.
He says the plan is for the new joint venture company to be established in Hong Kong.
Hao atoll was a key base of the French military for 30 years when it used the South Pacific to test nuclear weapons.
Mr Temaru has told the Nouvelles de Tahiti that the Chinese partners plan to invest huge sums into research and hatcheries, which may ultimately boost Hao's runway to become an international airport.
He has local media that the deal will need to be discussed with new French leadership but that no date has been set.