Chengdu’s News for July 1 – 15

Monday, July 16, 2007 5:09

While not the most exciting email newsletter I have received lately, the news about FDI utilized and Home Depot’s entrance into Chengdu is quite interesting. I hope to follow up on both soon.

Asian exhibition magnate entered Chengdu
Internationally renowned exhibition service provider Packet Group’s Chengdu filiale officially started business on June 29. It was reported that it would target mainly middle or high-end commercial exhibition and conference market.

t present, the group has 31 filiales around the world, and it is one of largest exhibition design companies as well as the first exhibition company listed in Hong Kong Stock Market.

Actually utilized foreign capital in Chengdu’s manufacturing and service industries rose by 50%
It was learned from Sichuan Provincial Department of Commerce on July 1 that from this January to May, the number of newly approved manufacturing projects is 35 and the amount of contractual foreign capital is US$421.56 million and the actually utilized capital US$319.64 million; the approved service projects account for 105 and the contractual foreign capital amounts to US$1022.93 million and actually utilized capital US$869.21 million. The rise of foreign capital in actual use in the both industries is over fifty-percent, 67.1% and 71.5% respectively.

RMB 5billion builds Dujiangyan international resorts and tourist areas
On July 3, IMC Group (Singapore) and Chengdu Cultural & Tourist Development Group have founded a joint venture, which is to invest RMB5 billion to construct large international resorts and tourist areas in Longchi and the Western International Resort in Dujiangyan City. It is a helpful practice of innovating cooperation mode in cultural and tourism fields after the approval of Chengdu’s establishing of the national pilot zone for overall rural-urban reform.

Nobelist accepted the offer as guest professor of West China Hospital
On July 5, West China Hospital of Sichuan University successfully engaged Nobelist Wiesel as its guest professor, and meanwhile Wiesel Ophthalmological Research Institute, donated with RMB1 million by the hospital and World Eye Organization, was officially set up to train talents for China. The president of WEO Lin Wenjie was also offered the post as guest professor.

Shanda acquires Chengdu game company
Chinese online game company Shanda Interactive Entertainment Limited announced on 5 July that it has signed an agreement to acquire Chengdu Aurora Technology Development Co. Ltd, which is the biggest acquisition Shanda has ever made in West China. It is revealed that by doing this Shanda will enlarge the scale of its online game research base and increase the investment in Chengdu accordingly.

To apply for household allowance for high-level talents starts next month
Information from municipal personnel bureau on 5 July that the Enforcement Regulation on Temporal Method of Chengdu’s Encouraging Companies to Recruit High-level Talents has officially came on. Personnel departments at district (city) county-level will start accepting company applications next month. High-level talents employed by mainstay and high-tech companies after May 22, 2007, can enjoy a series of preferential policies including a monthly household allowance of 1000 yuan for three consecutive years and financial incentives.

American Home Depot entered Chengdu
It was learned on July 5 that Home Depot, a US-based world’s largest retailer of home furnishings, has established a branch in Chengdu and included Sichuan enterprises into its global purchase chain.
It is reported that in 2006 Home Depot ranked 43rd among the Fortune Global 500 and achieved total revenues of USD 81.555 billion. It mainly sells various building materials, home furnishings, and lawn and garden products and provides various relevant services. During the 8th Western China Fair in this May, Home Depot revealed that it would buy furnishing products worthy of US$5 million dollars from Sichuan annually.

To build the country’s biggest nuisanceless selenium-rich grapes base in Chengdu
It was learned on July 8 from Shuangliu district of Chengdu that with the successful introduction of a new grape breed rich in selenium named Sichuan Red in Peng Town, Shuangliu district made the decision to build a largest selenium-rich grapes base in Peng town, according to the agricultural plan of industrialization and urban sight-seeing.

Sichuan to build national nuclear power research and equipment manufacturing bases
It was learned from State-owned Assets Commission of Sichuan on July 8, according to the current industrial basis and scale of Sichuan nuclear power industry, Sichuan has roughly fixed the development target for the coming 3 years: to build a national nuclear power research base and equipment manufacturing base, which is to form a complete industrial chain and company cluster from research, production, material provision to technology service. The sales revenue is expected to reach RMB12 billion by 2010.

International Symposium on Advanced Optical Manufacturing and Testing Technologies was held in Chengdu
On July 9, the feast of the international optical manufacturing and testing — the 3rd International Symposium on Advanced Optical Manufacturing and Testing Technologies was held in Chengdu. More than 500 experts and scholars from the US, UK, France, Germany, Japan and Mexico, etc, gathered in Chengdu to discuss the latest international advanced technologies in the fields of the optical manufacturing and testing, and offer advice on the development of the electronics and IT industry of the city. It is reported that the meeting was held in Chengdu for the second time.

“Made-in-Chengdu”encephalitis B bacterin starts mass production for world market in two years
The encephalitis B bacterin project conducted by Chengdu Institute of Biological Products of the China National Biotec Corporation broke earth on July 10, which is part of the national high-tech industrialization demonstration work. With the help of American partner PATH, the project from its design, construction and production will conform to the international standard pre-authenticated by the WHO. The mass production of bacterin and its entering into world market are expected the year after next.

“Small EU-China Partenariat”to open in Chengdu this November
One year after 2006 EU-China Partenariat was held, a “Small EU-China Partenariat”, especially designed for small and medium-sized enterprises, is to be held in Chengdu on November 8th to 9th this year. It is learned from EU Project Incubation Center (Chengdu) that the coordination and selection are being conducted. 300 Chinese enterprises and 100 European enterprises shall appear at the Partenariat in Chengdu this November.

Bai Gang met guests from African-Israel Investment Group
On July 11, Vice Mayor Bai Gang met President and CEO of African-Israel Investment Corporation (AFI) and his party. The projects which AFI intends to invest in Chengdu, the orange ecological park and top grade leisure center, have been discussed.
It is reported that AFI is an international assets and investment company, which has involved widely in real-estate, commerce, telecom, media and infrastructure in and outside of Israel.

Li Chuncheng met Polish construction minister and his party
On July 13, Li Chuncheng, Member of CPC Sichuan and Secretary of CPC Chengdu, met Polish construction minister and his party.
Polish minister thought high of the cooperation prospect between Chengdu and Poland in construction field, and wished to welcome more Chengdu companies to invest in Poland and to participate in local infrastructure construction.

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One Response to “Chengdu’s News for July 1 – 15”

  1. Chengdu’s News for July 1 - 15 | Top China Suppliers says:

    July 21st, 2007 at 4:52 am

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