Chengdu’s News for Sept 19

Wednesday, September 19, 2007 7:48
Comments Off on Chengdu’s News for Sept 19

Following a couple weeks of break, I thought this would be an easy post to get me back into the saddle… here is the news as reported by my friend Jessica at the Foreign Investment Bureau

468 Project will roundly upgrade Chengdu’s informationization next year

In order to cooperate with the application of China’s first “ministry-province-city co-built interactive demonstration zone of informationization and information industrialization”, on August 26, Chengdu’s informationization office published the recent project construction plan: Chengdu is planning to gradually improve four basic systems which are “networking support”, “data resources”, “information security” and “application services”, start up 6 key informationization projects as well as 8 major application demonstration works, which are expected to be finished next year. It is revealed that the projects plan to absorb social capital and government direct investment of over RMB 1.2 billion, and will drive an estimated over RMB 100 billion indirect social investment.

It is reported that the construction of the projects will have huge upgrading effect over the whole city’s informationization construction. Meanwhile, world-class software R&D companies such as Microsoft, IMB and Oracle will become close partners of Chengdu’s information industrialization.

“Macrocosmic Chengdu” builds up four major industrial bases
At Chengdu’s 2007 mapping work meeting, the city’s planning conservancy revealed its thinking and basic idea about “Macrocosmic Chengdu” and the formulation of the planning is expected to be finished at the end of this year. According to the initial thought, Chengdu’s 12,390-km2 land will be shaped into a five-level urban structure including a metropolis, 14 new cities, 306 towns, about 600 villages and 3000 inhabited spots. Railroads and expressways will reach new cities, highways connect key towns and roads run through every village.

In respect of industrial layout, the city will be divided into four major bases which are high technology industrial base, modern machinery base, modern service base and modern agriculture base.

Standard Chartered opened its first subbranch in Chengdu
After BEA’s first subbranch was set up in Chengdu in May, Standard Chartered opened its first subbranch – Waltz in Chengdu on August 30. It is reported that in two months the bank will obtain the license to operate RMB business for domestic residents, and will issue debit cards and add three ATMs in Chengdu in the fourth quarter.
Since 1994, Standard Chartered has presence in Chengdu, and in 2005, opened its Chengdu branch.

Good time for Chengdu to do processing trade
The Ministry of Commerce and General Customs Administration recently issued a new Restricted Catalogue for Processing Trade, implementing differential policies towards the East and the central and western region, which will accelerate the move of the processing trade westward. Insiders analyzed that Chengdu should be a premier choice, for it has solid industrial base and scientific & technological strength, complete financial services, convenient transportation as well as fast growing logistics.

During the first half of this year Chengdu’s processing trade realized imports and exports of US$ 1.12 billion, up 164.51% year-on-year. The trading structure is further optimized, with mechanical and electrical products and high-tech products as main products, whose exports attained US$ 491 million and US$ 414 million respectively, with an increase of 348.16% and 328.61% respectively.

Chengdu financial background services center settled in Chengdu High-tech Zone
It was learned on August 30 from the working meeting on planning and construction of Chengdu financial background services center that, Chengdu Financial Background Services Center with 1 million m2 floor space which can accommodate 60,000 – 70, 000 employees have settled in Chengdu High-tech Zone. Financial regulatory bureaus such as Sichuan Banking Regulatory Bureau and 20 Chengdu-based financial organizations all expressed their confidence in the center’s strong foundation.

As introduced, the center will focus on introducing financial organizations such as banks and insurance companies to set up data centers call centers, anti-disaster centers, credit card centers, training service centers, etc. Upon completion, it will greatly push the development of local companies and consolidate Chengdu’s role as the financial center in West China. Meanwhile, the services center will enjoy numerous preferential policies on power supply, talent services, living facilities, telecommunication services and technical support.

So far, various background services center including Construction Bank’s 95533 customer service Chengdu center, Industrial and Commercial Bank’s e-banking center, Bank of China’s Southwest information center, China Merchants Bank’s credit card center, Ping An’s second backup service center have already settled in Chengdu.

With RMB 1.6 billion Sichuan Airlines plans to buy 27 airbuses
It was learned on August 31 from Sichuan Airlines that the company plans to spend RMB 1.6 billion in the future 5 years to introduce 27 airbus planes, of which 6 are “China-made” A320. It is estimated that the scale of Sichuan Airlines fleet will be enlarged to 75 airplanes by 2010.

Chengdu tourism economy volume ranked first in West China in the first half year
It was learned on August 31 that in the first half of 2007 Chengdu’s tourism generated total revenue of RMB 19.4 billion and received 25.38 million tourists, up 15% year-on-year. Its economic volume ranked first among cities in west China.

Seventh Kingdom of Heaven Foodstuff Fair and China Moon-cake Festival unveiled
It was learned on September 5 that the biggest and most influential foodstuff pageant in West China – the 7th Kingdom of Heaven Foodstuff Fair and China (Sichuan) Moon-cake Festival would be held in Chengdu from September 13 to 24.
As introduced, the fair surpassed the previous ones not only in size but also in level, so far more than 500 famous companies from over 20 provinces and municipalities have applied to participate, bringing over 8,000 varieties of products for exhibition. The exhibition space is over 20,000 m2. Sichuan’s grain and oil choicest goods and various green foods will show up in Chengdu together with numerous top-rank moon-cake companies.

Global investment elite gathered in Chengdu in September
On September 6, “2007 Id Tech Ventures International Investors Annual Meeting” was held in Chengdu. Nearly 80 well-known investors from international organizations such as JPMorgan Chase and UBS gathered in Chengdu and discussed ardently with domestic and local counterparts on the subject of how can the capital jump into the West and create a new world. It is reported that it is the first time for the meeting to be held in a western city, and it is also one of the highest level risk investment forums held in Chengdu these years.

Longmen Mount to build ecological industrial park with RMB 450 million
It was learned on September 6 that the building plan for a modern agricultural demonstration zone at the foot of Longmen mountain in Pengzhou city has been initially confirmed: during the “11th five-year” period, Pengzhou will raise RMB 450 million for Longmen Mount’s industrial transformation, to form an ecological industrial park integrated with 5 major industries of vegetables, fruits, flowers, medicinal materials and cold water fishes.

Sichuan University to build “nuclear” college
On September 6, Chengdu Municipal People’s Government, China National Nuclear Corporation and Sichuan University signed up an agreement to jointly build up Sichuan University’s nuclear science and engineering college, in order to train and store up high-level specialists and provide solid basis for the construction of a synthesized application and industrialization base of nuclear technology in China.

Chengdu and Atlanta formed twin towns
On September 6, Chengdu-Atlanta International Giant Panda Art Festival was inaugurated in Atlanta city, capital of Georgia State in the US. Chengdu and Atlanta signed a city agreement of friendly cooperative relationship, and announced that every September 6 is fixed as the “China Chengdu’s Day” in Atlanta.

On the list of Mainland China’s Best Commercial Cities Chengdu’rank rose to 14th
On September 7, the widely noticed Forbes “2007 Mainland China’s Best Commercial City List” was announced at the 2nd Chinese Cities Investment Forum”. Among the 100 selected best commercial cities, Chengdu ranked 14th, topping the central and western China. Meanwhile, Chengdu also entered the list of “2007 most suitable city for development of environmental protection”, in which it was list 16th among 24 cities.

OLYMPUS set up Chengdu branch
On September 10, OLYMPUS officially set up its branch in Chengdu. General Manager of Chengdu branch explained that West China’ market has great development potential, Chengdu is the center of the whole West, whose geographical location is important, while Chengdu people are benign. He also revealed the plan of gradually setting up offices in other provinces in the west.

Jardine Matheson to set up chain supermarkets in Chengdu
It was learned on September 10 from the municipal economic commission that a famous Asian listed retail group, subordinate of Fortune Global 500 Company Jardine Matheson, is going to set up Wanning chain supermarkets. The supermarket has already settled in Qingyang district recently, and 30 outlets are expected to open at the first stage.

2007 China Health Preserving International Forum to be held in Chengdu in November
It was learned on September 10 from Sichuan provincial association for friendship with foreign countries that the 2007 China Health Preserving International Forum will be held from November 17 to 20 in Chengdu. This forum will invite domestic and foreign health preserving experts and professors to give lectures and organize 10 public-participated activities such as health-improving kung fu and various martial arts performances and calligraphy and writing art exhibitions. At present, many experts and scholars from the US, Canada, Korea and Singapore as well as from Hong Kong, Macao, Taiwan and other Chinese provinces have expressed the willingness to attend the event.

HiSense Kelon to build West China household appliances production base
HiSense (Chengdu) Refrigerator Co., Ltd is going to invest RMB 350 million in building the Kelon West China Household Appliances Production Base at Chengdu Economic & Technological Development Zone. This new base is expected to start operations at the end of this year at the soonest. A production capacity of 1.5 million iceboxes and refrigerators with sales revenue of RMB 1.2 billion would be achieved annually after the completion of the whole project.

Chengdu kiwi fruits to go beyond Chinese frontiers
On September 11, a group comprised of 7 high-level executives from Zelanian ZESPRI, one of the two biggest kiwi companies in the world, came to Chengdu and made a on-the-spot investigation on China’s biggest kiwi fruits production base located in Pujiang county, and have reached agreement of deep cooperation with local company. From then on, Sichuan’s unique “Hong Yang” kiwi fruits will go beyond Chinese frontiers and enter into international market.

Chengdu and Berlin signed the memorandum of friendly cooperation
On September 12, vice mayor Bai Gang who is attending the 6th Berlin Asia-Pacific Week signed with Berlin’s mayor Klaus Wowereit a memorandum on Chengdu-Berlin Friendly Cooperation. Two parts agreed to strengthen exchanges and cooperation on economy, tourism, culture, environment protection and city management.
It is reported that during Berlin Asia-Pacific Week, Chengdu Culture and Tourism Group has reached cooperative agreement with Berlin Tourist Marketing Co. Ltd, to open channels and provide convenience for counterpart city’s tourism marketing.

To develop modern services, Shenzhen and Hong Kong invest RMB 22.57 billion in Sichuan
On September 12, Sichuan-Shenzhen-Hong Kong Modern Services Cooperation Meeting, sponsored by Sichuan provincial government and organized by Chengdu municipal government, was held grandly in Shenzhen. During the meeting, 19 famous Shenzhen and Hong Kong companies signed investment agreements with Sichuan government, with a total investment of RMB 22.57 billion.

With unique charm Chengdu was crowned the best Leisure City in China
At the “Awarding Ceremony of First China Leisure Industry’s Ten Best Cities of Leisure and 2007 China Leisure Economy Development Forum” held days ago in Beijing, Chengdu ranked foremost on the list of “Ten Best Leisure City in China”. Meanwhile, Jiuzhaigou scenic spot won the title of one of “China’s Ten Best Leisure (Ecological Tourism) Scenic Spot”.

It is learned that this appraisal was initiated by UN’s International Ecological Security Cooperation Organization, International Association for Leisure Industry, China Association of International Famous Brand-names and China Leisure Economy Research Center.

With 34 important economic cooperation projects concluded, Sichuan and Shanghai signed a RMB 18.7 billion big contract
During the Sichuan-Shanghai Industrial Cooperation Symposium and Project Signing Ceremony held on September 13, Sichuan’s 34 important economic cooperation projects from 14 cities, autonomous regions and counties were signed with Shanghai companies, with total investment of RMB 18.734 billion.

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