Chengdu Investment News: A Fitting Way to Return

Thursday, May 22, 2008 1:16

The last week for me has been one consumed by assisting those in the earthquake affected region, and last Friday I received my usual email from my friends at the Chengdu Foreign Investment Bureau. At first, I thought it a bit odd given everyone was still worried about aftershocks, the airport had become a hub of relief logisitcs, but with nearly 8 days past I realized that the email was one that I needed to be my first post back as it represented something larger than just an investment news letter.

It, to me at least, represented a way a message that even in the face of mother nature’s worst, that the area will heal. that through the economic stability and investment, a critical part of Sichuan’s recovery will be met.

1. Sichuan Airlines applied for opening of an air route to Bangalore
It is reported that the Chengdu-based local airline – Sichuan Airlines a few days ago made a formal request to the Civil Aviation Administration of China for the opening of a regular passenger airline between Chengdu and Bangalore in the near future. Once putting into service, it will become the first direct scheduled airline from Chengdu to the South Asia.

2.West China’s biggest auto products market settled in Chengdu
Jinjiang Group-held Zhejiang Jinhengde International Logistics Group Co., Ltd recently announced that it will invest 2.5 billion yuan in Chengdu to build the Jinhengde West China International Automotive Purchasing Center. As part of the center, the “Auto Theme Park” located in Wenjiang district was started construction on April 27.

It is reported that Jinjiang Group’s choosing to invest in Chengdu automotive industry is to target the huge market potential of Chengdu as the third largest automotive consumption city in China. With the completion of the project, it will become the biggest specialized auto products market and logistics base of Sichuan even of West China, which will further bring over to Sichuan more than 3,000 dealers of auto parts & accessories based in coastal areas.

3.Wal-Mart is increasing purchase of farm products from Sichuan
On April 27, Wal-mart will launch the “Sichuan Festival of Farm Products” in its 3 stores in the province, which involves two major goods of fresh products and dried food of local specialty. It is reported that this initiative is aimed at satisfying the ever-enriching daily needs of customers, and also signifies that Wal-mart is to build sound cooperative relationship with quality agricultural bases in Sichuan and gradually increase its purchase of Sichuan farm products.

4. Kingdee “Middleware” established in Chengdu
It is reported that Kingdee Software, one of two major forces in China in corporate management software, recently has set up its R&D laboratory of middleware in Chengdu. Co-established by Kingdee Middleware Co. Ltd and Chengdu Office of informationization, it will be the city’s first laboratory to provide R&D support for Java-based software developers and integrators. The setting up of the laboratory also will help upgrade the developing capability of local software companies in the network domain.

5.Building of China’s first complete OLED production line started in Chengdu
On April 28, China’s first complete OLED production line equipped with the independent intellectual property and core technology of the country – Hongshi OLED project was laid the cornerstone ceremoniously in Chengdu High-tech Zone, which is reported to have in total 705 million yuan for the first phase of construction.

It is introduced that the Hongshi OLED project of display screen having owned over 130 patent technologies, is planed to be finished and put into operation in the first quarter of next year, and will develop into an annual production capacity of 12 million units of OLED display screens after its completion.

6.12 years, 1000 units!
As introduced by Chengdu Aircraft Industrial (Group) Co. Ltd, the 1000th Airbus’s A320 rear boarding gate supplied by the company was formally delivered and put into use a few days ago, which is a historical prove of 12-year good faith cooperation between Chengdu Aircraft Company of China Aviation Industry Corporation I and Airbus.

7. Turkish textiles magnate opened store in Chengdu
Chengdu’s commerce is attracting famous brands to gather round from all over the world. On April 29, Turkish textile group ZORLU Linens, a Fortune Global 500 company, carrying its flagship brand TAC came into Chengdu, and opened in SM of the city its first Chinese international domestic textiles store. It is revealed that the ZORLU Group is also planning to set up factories in Sichuan, where in the near future the localization of production of TAC products can be achieved for customers.

8.Southwest China’s biggest innovation base of agricultural sciences settled in Xindu district
The “Experimental Base of the Southwest Innovation Center of Sichuan Academy of Agricultural Sciences and Agricultural Sciences of China”, the project of the Southwest China’s biggest innovation center of agricultural sciences jointly set up by Sichuan Academy of Agricultural Sciences and Xindu district government was signed on May 5. Settled in Xindu district, the project is planned to cover a land of 2526 mu and use a total of 2 billion yuan.
It is reported that the base is estimated to be built within 2 years into China’s first-rate deep processing industrial base of edible (officinal) fungus, industrial base of fruit seedlings and flowers, industrial base of nuisance-free vegetables, industrial base of crop seeds, industrial base of biological pesticide and fertilizer, as well as the R&D center of deep processing of farm products and consultation center of agricultural sciences and industries.

9.First phase construction of MCC Shijiu (Chengdu) Equipment Manufacturing Co. Ltd started
The ceremonies of inauguration of MCC Shijiu (Chengdu) Equipment Manufacturing Co. Ltd co-invested by MCC Capital Engineering & Research Incorporation Limited and MCC Shijiu Construction Co., Ltd, and of commencement of the first phase construction invested with 120 million yuan were held grandly in Qingbaijiang Industrial Concentration Development Zone, which marked another achievement Chengdu has made in the concentrated, intensified and aggregated development of metallurgic industry.

10.West China’s biggest call center of BPO kicked off in Chengdu
On May 11, China Telecom BPO Call Center (Chengdu) formally opened in Chengdu High-tech Zone, which will have 1,000-seat operating capacity within the year and is estimated to reach a scale of 5,000 seats in 3 to 5 years, becoming the biggest BPO call center in West China.
It is learnt that so far the center has signed with Huatai Insurance and China United Insurance, and also reached agreements of intent with Sichuan Changhong, Credit Card section of China Bank, West China Securities, Yum! Brands, Inc, as well as the cell phone direct marketing center of China Life Property & Casualty Insurance.

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2 Responses to “Chengdu Investment News: A Fitting Way to Return”

  1. James says:

    May 24th, 2008 at 5:09 am

    Richard, just a question about visas… what is the duration one can stay
    on a 6 month F visa ? Can you stay on the same visa for 6 months without
    leaving or do you have to leave the country every few weeks ?

    Cheers,
    James.

  2. Nrupesh says:

    May 25th, 2008 at 4:40 am

    James,

    It depends on where you get the 6-month visa from. If you got it from your own country’s China embassy then they would issue only a 30day 6-month visa, so you can only stay 30 days each time you enter China, however you can enter/exit as many times as you want. If you got the 6-month visa from China through agent then they might have issued a 6 month continuous stay visa.

    Just look on the visa stamp on passport, it will mention on the visa itself about ‘Number of days’ you can stay.

    Cheers,

    Nrupesh

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