Chengdu Investment News: August 18

Monday, August 18, 2008 10:41
Posted in category Uncategorized

1. Agreement signed among eleven cities on Southern Silk Road to form tourist alliance
At the closing ceremony of the Southern Silk Road and Ethnical Cultural Forum held on July 26th, 11 node cities on the Southern Silk Road including Chengdu, Ya’an and Zhaotong of Yunnan formally signed the Southern Silk Road Tourist Alliance Cooperative Agreement to join efforts to build the Southern Silk Road into an elaborate tourist route.

2. London Asia Group came to Sichuan for business visit
On July 29th, Bao Hui, member of Standing Committee and director of United Front Department of the Chengdu CPC met a visiting group headed by Huang Bo’ai, president of London Asia Group, which is a famed commercial bank focusing on investment in Asian and European areas, and has so far invested more than 300 million US dollars in the Great China Region and helped many Asian companies be listed in Singapore and the U.K. The emphasis of its visit to Sichuan this time is on projects in agricultural fields, particularly post-earthquake agricultural development and restoration projects.

3. 500 million yuan inked, MCC Chenggong brought back large order from Turkey
On July 29th, MCC Chenggong Construction Co., Ltd, a key fostered backbone enterprise of Chengdu city and of Sichuan province, secured an order of 500 million yuan of 300-square-meter sintering project from Turkish steel factory, which is a renewal after the company has inked contracts of overseas order of 2 billion yuan in the first half of this year.

4. Three centers established in Chengdu Aircraft Industrial of AVIC I
On July 30th, three centers qualified by the advanced technology research application center of the National Defense Science and Technology Industry, namely Enterprise Technical Center, Center of Research on Application of High Efficiency NC Machining Technology and Center of Research on Application of Resin Matrix Composites Structure Manufacturing Technology, were established in Chengdu Aircraft Industrial of AVIC I with the plaques hung up officially, which marked a new step the company has accomplished in the aspects of technology research, processing level and new material application technology.

5. U.S.-based Caterpillar settled in Wuhou
Ranking 152nd in the FORTUNE Global 500 company list, the U.S.-based Caterpillar was officially settled in Chengdu, and the western zone headquarters of Caterpillar (China) Investment Company Limited a few days ago moved into Lippo Tower located in the scientific and business district of Renmin Nanlu, which is expected to be put into formal operation on August 18th, learnt the journalist on July 30th from Wuhou district. Being the world’s largest manufacturer of earth-moving machinery and construction machinery, the company will expand the market share for its products while introduce globally advanced engineering equipments to support the post-disaster reconstruction of Sichuan province, according to Lin Jinhan, its western zone general manager.

6. Chuan Shan Gan collaborating to build Three Kingdom international tourist route
On July 31st, the “Chuan-Shan-Gan Tourism Restoration Cooperation Conference” co-sponsored by Sichuan Travel Bureau, Shanxi Travel Bureau and Gansu Travel Bureau was held in Hanzhong, Shanxi, during which the Cooperation Agreement on Restoration of Shan-Chuan-Gan Tourist Market was signed and the three provinces agreed unanimously to build in collaboration cross-regional tourist routes such as the Three Kingdom international route, international ecological route and under-the-sun Shu Road route.

7. Reanda based in Chengdu to develop central and western market
One of the country’s ten major accounting firms, Reanda Group’s first branch in central and western China officially opened on August 2nd in Chengdu. Huang Jinhui, president and associated head CPA and chief partner of the company expressed that the establishment of the affiliate in Chengdu is for the purpose of not only providing quality services to clients in proximity but also satisfying the need of self-growth of the company, and they are very confident, with Chengdu as its nucleus, to expand business into the broad central and western market.

8. 2.2 billion yuan injected for reconstruction, Hong Kong and Macao entrepreneurs expecting Chengdu stronger
On August 2nd, the Hong Kong and Macao Business Community of China Overseas Friendship Association to Support Chengdu Post-disaster Reconstruction Investment Seminar and Project Signing Ceremony were held in Chengdu. The signed projects include 4 donated aid construction projects and 6 investment projects, involving capital of over 40 million yuan and 2.2 billion yuan respectively.

9. 30 billion yuan signed in 40 days, Chenghua district building new platform for industry acceptance
On August 3rd, the Chenghua District Acceptance of Industry Transfer Projects Introduction and Signing Conference was held in Hangzhou, under the joint auspices of Sichuan Investment Inviting Bureau, Sichuan Government Representative Office in Zhejiang, Chengdu Government Representative Office in Shanghai, Chengdu Investment Promotion Commission and Chenghua district, having attracted the participation of more than 140 heavyweight companies including Fortune global 500 companies, powerful European enterprises and companies in the Yangtze Delta economic circle, during which 12 companies signed on-the-spot with Chenghua district investment agreements of headquarters projects of approximately 13 billion yuan. Prior to that meeting, Chenghua district has also concluded headquarters investment projects of 17.5 billion yuan with 12 domestic financial groups.

10.Italian Insurance Group’s Chengdu affiliate opened
On August 5th, the Sichuan branch of Generali China Life Insurance Co., Ltd, joint venture of the Italy-based Generali Group’s in China, formally started business operation in Chengdu, which is its first affiliate in West China. Currently, Generali China has had provincial-level branch offices in Beijing, Guangdong, Shenzhen, Jiangsu, Liaoning and Sichuan.

11.Shuangliu won title “county of excellent demonstration of advanced technology of State”
The Ministry of Science and Technology recently issued the Notice on the Printing and Distributing of Mid-term Evaluation Results of Counties (Cities) of Demonstration of Advanced Technology of the State, and Shuangliu county of Chengdu won the honorable title “County of Excellent Demonstration of Advanced Technology of the State”.

12. Two national quality test centers of furniture and footwear settled in Chongzhou
The National Quality Supervision Test Centers (Chengdu) of Furniture and of Footwear, third of its kind in China and first in the western region, were settled in Chongzhou Industrial Zone, Chengdu, learnt the journalist on August 12th from Chongzhou city. The settlement of the two national quality test centers marked the confirmation of the status of Chengdu and Chongzhou as the important furniture and shoes industrial bases in China, which will effectively push the development and expansion of the two industries of Chengdu, attract more production companies to gather in the city, and to the city of Chongzhou who just went through the earthquake, which will be of great importance to resume confidence and quicken development.
It is reported that so far only Wenzhou and Beijing host the national footwear and leatherware quality test centers, while the national quality test center for furniture are merely established in Guangzhou and Shanghai.

13.State Council fixed tourism as leading industry for post-disaster reconstruction of Sichuan
On August 12th, at the 2008 Beijing International News Center Collective Interview, Wang Zhifa, vice director of State Travel Bureau of China, expressed that the State Council of China has fixed the tourism as the leading industry for the reconstruction of Sichuan seismic area and efforts will be enhanced to improve the tourist facilities and service level as well as to encourage the development of travel enterprises.

The State Council is to recover the infrastructures of scenic areas and scenic spots and upgrade service levels by giving such preferential policies as allotting special funds, placing discount interest loans to tourist enterprises and reducing taxations. At present, except for some severely-hit areas, tourist markets of other parts of Sichuan province have fully revived, of which, those of famous spots such as Emei Mountain, South Sichuan Bamboo Sea and Chengdu Wuhou Ci have resumed the pre-earthquake level.

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