Chengdu Investment News: October 15

Tuesday, October 16, 2007 7:33

Chengdu’s popularity ranked fourth during Golden Week
The leading Chinese online tourist services company issued on October 7 the Rating of China Cities’ Popularity in “October First” Golden Week 2007, in which Chengdu ranked fourth, one position superior over last year, just behind Shanghai, Beijing and Hangzhou.

Also according to the data from Chengdu tourism bureau and statistics bureau, by 18 hours of October 7, the city has received 4.929 million visitors and realized tourism revenue of RMB 2.302 billion during the Golden Week.

Sichuan’s imports and exports topped the West
It was learned on October 7 from Chengdu Customs that from January to August of this year, Sichuan’s imports and exports accumulated a total sum of US$ 8.86 billion, up 28.3% year-on-year. Sichuan’s foreign trade value ranked 14th in China and topped the West. Data show that private companies have become the major exporting force in Sichuan, while electromechanical and high-technology products are fast growing sectors for exports.

Chengdu’s imports and exported generated US$ 3.52 billion, up 43.2% year-on-year, which accounted for 66.6% of the province’s total foreign trade.

Chengdu scientific development research institute was formally established 
On October 8, the founding ceremony of Sichuan University’s Chengdu Scientific Development Research Institute and high-level forum for urban-rural coordination strategy were held grandly, which is a big issue in pushing the construction of the city’s pilot reform zone and realizing its scientific development.

It is reported that the institute will initiate studies around important theories and practical problems of the economic and social system reform, administrative system reform and government role transformation during the pilot reform for the city’s urban-rural coordinated development, and provide various decision-making consultation research reports and trial working schemes for the city.

China Life entered Sichuan corporate pension market
After Ping’An set up its endowment insurance company in Chengdu in this March, China Life Insurance recently at its first introduction meeting for corporate pension in Sichuan announced that it would formally stride into Sichuan corporate pension market.

Beijing Orient 4.5 TFT-LCD production line settled in Chengdu
The signing ceremony of Bejing Orient Chengdu Project was held on October 8, which signified the formal settlement of Beijing Orient 4.5 TFT-LCD production line in Chengdu.

It is reported that the project has total investment of RMB 3.1 billion and will be capable of producing 30,000 units monthly, which include medium and small size displays (screens) and modules for notebook computer, flat computer, digital picture frame, vehicle-borne display and mobile display. The project is expected to be started at the end of 2007 and put into production in mid 2009.

The project’s successful settlement will drive the gathering of the city’s related upstream and downstream industries including glass materials, chemicals, modules, displays and driving chips, etc, which shall further accelerate the development of photoelectric display industry in Chengdu.

Former US vice minister of education assumes the role of headmaster in Chengdu
On October 10, Dr. Susan Sclafani, executive director of American Chartwell Education Group and former US vice minister of education accepted the offer as honorary principal of Jinsha primary school in Chengdu. This is her first time to assume such role in China, and she will come to the school at least once every year and bring high-quality American education resources to China.

Fourth China International Food and Tourism Festival to be held on 26th
It was learned on October 10 that the fourth China International Food and Tourism Festival sponsored by CCPIT and Chengdu Municipal People’s Government will be held in Chengdu from October 26 to November 4. The festival have set up six feature experiencing zones in central city and six sub meeting places in six districts (cities) counties. Various activities are expected to be organized to promote “Chengdu living style”, letting guests savor all Chengdu eateries and fork customs.

West China’s biggest aquatic product market starts trial operation on 15th 
It was learned on October 10 that Sichuan’s first large-scale logistics and wholesale market for aquatic products – Chengdu Longquan Aquatic Products Logistics and Wholesale Market, whose business zones’ construction has been basically completed in this May, will start trial operation on October 15. From then on, Chengdu’s frozen aquatic products merchants will be able to experience world-class functions such as e-commerce information system and computer-controlled storage management in the market.

It is reported that the market has total investment of RMB 286 million and total construction space of 173,000 m2 on an occupied land of 300mu.

2007 China Female Shoes Capital’s International Purchasing Festival was held grandly   
The 2007 China Female Shoes Capital’s International Purchasing Festival which was sponsored by China Leather Association, Sichuan Department of Commerce and Chengdu Municipal People’s Government and organized by Huhou district government, was grandly held in Huhou district on October 12 to 14.

This festival has welcomed for the first time tens of shoe-making companies and industrial associations from Italy and Spain, great powers in shoe-making. Moreover, shoe makers and purchaser unions from Russia, Brazil and the US, as well as hundreds of famous Chinese companies have participated in the event.

It is reported that Chengdu shoe-making companies have signed intentional orders of more than US$ 10 million during the short three days. Several Italian brands such as Giorgio and Fabiani have successfully found agents in China. China’s biggest female shoe-making factory – Huajian Group as well as Spanish shoe makers showed great interests in investing in Chengdu.

500 domestic steel giants gathered in Chengdu
On October 13, the second China Steel Merchants Meeting co-sponsored by Chengdu municipal government and China Metal Material Circulation Association unveiled in Chengdu. Nearly 500 giants of Chinese steel industry including Sinosteel Corporation, Panzhihua Iron & Steel Group and Chengdu Liangli Steel Material Logistics Center participated in this event.

The China Steel Merchants Meeting is an annual grand gathering of steel industry, and its first edition was held in Beijing. This meeting shall further strengthen Chengdu even the whole West’s competitiveness in steel trade, and also provide the platform for the striding into the southwest market of other domestic steel companies.

China Chengdu International Agricultural Fair to be held on October 26th
Chengdu agriculture’s grand event sponsored by Chengdu municipal government – first China Chengdu International Agriculture Fair will be held in Longquanyi district on October 26 to 29. In addition to displaying the fruits of Chengdu’s urban-rural coordinated development, enlarging communication and cooperation and strengthening agricultural investment promotion, the fair will also serve as a platform to introduce Chengdu’s high quality agro-products and important industrialized agricultural projects.

So far, over 700 domestic and foreign companies have consulted the organizing committee and 312 have confirmed their participation, including companies from the UK, Singapore, Malaysia, Israel and Thailand.

It is reported that during the first half of this year, 111 leading industrialized agricultural companies were newly added in Chengdu, of which 92 are large-scale companies; the latter realized sales revenue of RMB 31.46 billion and net income of RMB 1.25 billion, paying taxes of RMB 340 million and achieving exports of US$ 170 million. The development of key agricultural projects has been accelerated: 48 projects with investment of more than RMB 2 million were newly introduced, totaling RMB 2.23 billion in agreement capital. The number of agro-product processing companies has grown to 579 in Chengdu.

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2 Responses to “Chengdu Investment News: October 15”

  1. philip says:

    October 17th, 2007 at 9:13 am

    I am relatively new to this blog so I may not be fully aware of the writing practice here … first, would like to thank the writer for aggregating the latest development news on Chengdu … however, wouldn’t be more helpful if the writer can include the links to the source materials ? I suppose it is common blog practice to include links.

  2. Rich says:

    October 17th, 2007 at 10:33 am

    Hi Philip,

    I myself hate it when people use my stuff without referencing it, and your question is a fair one.

    With regard to the Chengdu updates though, the answer is that the above is simply what I am sent by members of the foreign investment department…. who to the best of my knowledge they are writing this themselves and are the original source. Usually I preface the fact that my friends in Chengdu have sent me the information, but I did not this week as I was in a bit of a hurry.

    If there is an article that you recognize please let me know and I will put in the appropriate link.

    Hope that answers your question.