Chengdu Investment News: August 1, 2009

Saturday, August 1, 2009 4:48
Posted in category China's Other Cities

1. GDP increased by 14.3 % in first half year
In the first half of this year, Chengdu’s GDP has increased by 14.3%, far higher than the national GDP growth of 7.1%, while the second quarter’s growth rate is 2% higher than that of the first quarter; over half of the task has been realized in 50% of the time. Chengdu’s economy shows a tendency of stopping slide and rising up, the impact of financial crisis on which is gradually reducing.

2. High-tech Zone selected among Chinese top-ten high tech zones with most investment potential
Aiming to build a world first-rate industrial pack, the Chengdu High-tech Zone entered the list of the top ten high-tech zone with most investment potential in China. On July 19th, the “Future of a development zone and a city – the summit forum on and the metal presentation of China’s high-tech zones with most investment potential” was held in Beijing, the Chengdu High-tech zone among 10 national high-tech industrial development zones were selected as the “top-ten high tech zones of most investment potential of China”.

3. Venture capital magnate joining hands with Chengdu, to set up sub-funds of 500 million yuan
After having jointly set up a sub-fund of 500 million US dollars with the Korea Development Bank and the Korea KTB, on July 15th, the Chengdu government guided fund “Yinke Venture Capital” made another big endeavor: the company signed with the domestic VC magnate DT Capital Partners, to jointly establish a CV fund of 500 million yuan, which is the first time for the government-guided fund to introduce a pure RMB fund to support the local industries.

It is predicted that by the end of the year, Chengdu will in total own 5 CV sub-funds, and Yinke also plans to introduce 3 American and Chinese investment organizations to set up sub-funds in Chengdu.

4. Guangzhou explores inland market in Chengdu, 11.8 billion yuan bill signed
On July 17th to 19th, the municipal governments of Guangzhou and Chengdu jointly held the “Guangzhou – Chengdu Fashion Brand Exhibition Fair” at the New International Exhibition Center of Century City of Chengdu.

It is introduced that the exhibition fair covers nearly 10,000 square meters, divided into 8 sections including equipment and chemical, electronic appliances, products of everyday consumption, house decoration, garment and dress, green food, beauty cosmetics and Chengdu products. 181 companies from Guangzhou have participated, all famous locally. During the fair, the two city’s governments also held the signing ceremony of Guangzhou – Sichuan regional economic and trade cooperation projects. According to the primary statistics, the so far agreed 21 cooperation projects involve automobile sales, biological medicine and electronic information, with over 11.8 billion yuan contracted.

5. Chongzhou obtained Chengdu’s first geographical indication of agricultural products
The “Chongzhou loquat-like tea” was recognized as the agricultural product of geographical indication, becoming the first of such kind in Chengdu, and making a breakthrough for Chongzhou’s agricultural products to have a national honor, according to the No. 1208 announcement of the Ministry of Agriculture released recently. Chengdu’s

6.New step made to push Chengdu’s exchange and cooperation with Taiwan
On July 15th, Li Chuncheng, standing member of Sichuan CPC committee and secretary of Chengdu CPC committee, and Ge Honglin, deputy secretary of Chengdu CPC committee and mayor, met Cheng Yunlin, president of Association for Relations across the Taiwan Straits, Jiang Bingkun, chairman of Straits Exchange Foundation, and some Taiwan businessman representatives.

Jiang Bingkun said, Chengdu’s post-disaster reconstruction is being effectively advanced, and the achievements of economic and social development are remarkable, the execution of various civil engineering projects so rapid and the efficiency of the reconstruction so high have left a deep impression on the delegation. The SEF will actively guide more Taiwanese businessmen to participate in Chengdu’s post-disaster reconstruction, to realize the win-win cooperation.

7. To invest totally 100 million yuan, to open green pork chain stores in Chengdu
Taiwan Morningstar Company and the Giant Star Company of Chongzhou, Chengdu, signed a formal agreement to set up chain stores for green pork and agricultural products, learnt the journalist on July 20th from Chengdu bureau of commerce. It is reported that the two sides will individually invest 10 million yuan, and the total investment is planed to reach 100 million yuan; 10 green pork convenience chain shops will be opened in Chengdu at the beginning, engaging in the sales of agricultural products such as green pork, vegetables and fruits.

8. Chengdu has a comprehensive services platform for flowers and plants
West China’s first comprehensive services platform “made-to-order” for flowers and plants industry – the opening ceremony of the Flowers and Plants Services Center of Wenjiang district, Chengdu, was held ceremoniously on July 20th in Wenjiang district. It is reported that the center’s general planning of 200 mou, will be used to build a comprehensive services platform for flowers and plants of fast information, complete facilities and high quality and efficient services. It is predicted that the center’s integrated sales capacity will reach 200 million yuan or above annually, creating over 200 job vacancies.

9. Taiwan Glass Company to add investment of 350 million US dollars in Qingbaijiang
Recently, Qingbaijiang district and Taiwan National Federation of Industries, and the development team from Taiwan Glass signed an investment framework agreement. According to the agreement, the TG Group decided to continue adding investment of 240 million US dollars, of which 200 million US dollars used to build the project of the 120,000-ton alkali-free glass fiber reinforcement wire, 30 million US dollars to build the LOW – E glass project, and 10 million US dollars for the construction of bronze-free and lead-free environment protection glasses, investment planned to be completed within 3 years. By then, the TG Group’s total industrial investment in Qingbaijiang district will reach 440 million US dollars. Besides, the TG Group considers to investment another 110 million US dollars to develop a five-star hotel and a residence for shift staff.

10. Matching the East, 134 Fortune Global 500 companies settled in Chengdu
According to the report of Chengdu investment promotion commission, the city has made new progress in the introduction of important projects in the first half of this year: 4 Fortune Global 500 companies including Volkswagen, Accenture, DHL and JPMorgan Chase & Co were newly signed to be settled in Chengdu. Up to now, the number of Fortune Global 500 companies present in Chengdu has reached 134, enough to match the eastern cities.

11. Chengdu awarded prize of “top-ten exhibition city of China”
On July 25th, the fifth China International Event Festival sponsored by Chengdu People’s Government and China Exhibition Magazine House was held in Chengdu, and simultaneously held were the 2009 China Exhibition Annual Meeting, the China Conference Industry Annual Meeting and the China Festival Celebration Industry Annual Meeting. During the award ceremony of the golden dolphin of Chinese exhibition industry held on the same day, Chengdu was granted the titles of the “Top-ten Exhibition City of China”, “Top-ten Conference Destination City of China” and “Top-ten Festival Celebration City of China” for the year of 2008 to 2009.

It is reported that in the first half year, Chengdu has held more than 150 exhibitions and festival celebrations, up 24% year-on-year, in which middle or large scale activities account for over 40, up 26% year-on-year, whose overall pulling effect on economy is about 11 billion yuan in Chengdu.

12. To invest 600 million yuan, Asia’s largest city of Children’s Occupational Experience settled in Wenjiang
On July 28th, the children’s occupational experience brand Babyboss from Taiwan formally came to an agreement with the China Railway No.2 Engineering Group Co., Ltd, and the two sides will collaborate to explore in Chengdu the mainland educational market for the children’s occupational experience. As the first step of cooperation, the two sides plan to invest nearly 600 million yuan, to build in Wenjiang district a largest occupational experience city for children in Asia, covering nearly 30,000 square meters, with annual reception of 3 million visitors; it is planed to be open to public in next June.

13. Faw-volkswagen Chengdu NCS project’s parts industrial park sailed
Sponsored by the municipal government and the FAW-VW automobile company, the opening conference of the Components Industrial Park of the Faw-volkswagen Chengdu NCS project and the signing ceremony for key parts projects were held grandly on July 28th. 22 key parts projects including 5 joint-ventures with Fortune Global 500 companies were settled in the Chengdu Economic and Technological Development Zone (Longquanyi district), with total investment of 3.922 billion yuan.

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