Chengdu Investment News: January 7, 2008

Monday, January 7, 2008 1:38
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Agricultural Trade Office at US Consulate General Chengdu opened
On December 14, the Agricultural Trade Office at US Consulate General Chengdu was formally opened in Chengdu, which is the fourth set up by US Department of Agriculture (USDA) in China, following those of Beijing, Shanghai and Guangzhou, and which is also USDA’s 102nd among overseas offices in 82 countries around the world.

It is reported that the office will push the market exploration of US agricultural goods in Southwest China and help establish connections for US companies who interest in exporting to China. In the meantime, it will investigate its home market and import Sichuan agricultural products to the U.S.

Sino-France cooperation on on-ice activities, Xiling Snow Mountain plans to build professional ski runways
On December 15, a delegation led by Jacques Fournier, General Manager of French Planeth Consulting Group, made their on-the-spot investigation on Chengdu Xiling Snow Mountain scenic spot and Huashuiwang Thermal Spring Resort, and suggested that Xiling Snow Mountain enhance its development of on-ice activities, for example, building professional ski runways. At present, two parties have arrived at initial agreement on overall cooperation in the fields of tourist design and development, consulting management and investment.

With Chengdu as its center, CITIC Bank to radiate peripheral areas

On the occasion of the tenth anniversary of CITIC Bank’s entry into Chengdu, Chen Xiaoxian, President of China CITIC Bank, arrived in Chengdu on December 16, where he expressed his admiration and applause for the city’s robust development of finance market. He said that Chengdu is CITIC Bank’s most potential as well as most important spot in its overall national arrangement, and the next strategic step for the Chengdu branch is to take Chengdu economic circle as its center and continue to radiate into well-developed peripheral areas. So far CITIC Bank Chengdu Branch has 14 district sub-branches, having generated profits of RMB 1.29 billion and paid taxes of RMB 710 million.

Hong Kong Sun Hung Kai to build International Finance Center in Chengdu
On December 17, Hong Kong’s major properties developer – Sun Hung Kai Properties Limited spent a big sum buying a piece of land in Chengdu, on which to build the city’s highest building – “International Finance Center (provisional name)”. Guo Bingxiang, President of the Hong Kong company, who came to Chengdu, expressed his confidence in the city’s prospect in developing the International Finance Center in West China.

It is learned that the “Finance Center” to-be-built is to be invested with RMB 16 billion yuan, in the form of twin towers, with total construction area of 1.2 million square meters. It is a large-scale compound integrated with five-star hotel, office building, shopping mall and international residence, which will become a landmark after its completion.

China’s first specialized international talent market set up in Chengdu
Recently, the State Administration of Foreign Experts Affairs commissioned China Association for International Exchange of Personnel to formally approve the establishment of the Chengdu Software Talent Market of China Association for International Exchange of Personnel in our city. It is reported that it is so far the country’s first specialized international talent market approved by the State Administration of Foreign Experts Affairs, whose founding will help software talents in Chengdu enter into the international circulation.

50 chartered tourist flights from Japan will land on Chengdu next year
It was learned on December 17 from Chengdu Tourism Bureau that the bureau has recently came to an agreement with Japan Airlines, in which two parts agree to arrange chartered flights for Japanese tourists to come to Chengdu. It is reported that next year the Japanese side will organize at least 50 chartered flights and the number of tourists is expected to break 200,000.

Shortest expressway between Chengdu and Chongqing to be open to traffic
It was learned on December 17 that the main work of Suining-Chongqing Expressway has been finished on the 16th of the month and the whole line will be open to traffic on the 31st. From then on, the Chengdu-Suining-Chongqing expressway will become the shortest passage so far between Chengdu and Chongqing, 295 kilometers long, which costs only 2.5 hours to drive through.

With total investment of RMB 200 billion, construction of Chengdu Experimental Zone started up
On December 17, during the sixth session of the 14th People’s Congress of Chengdu, Major Ge Honglin made a speech on the promoting of the construction of the Pilot Reform Zone for Coordinated and Comprehensive Rural and Urban Development, which first put forward integrally the general idea on Chengdu’s experimental zone construction. As for the aspect of big projects promotion, infrastructure building projects, including transportation infrastructure construction to connect second and third ring roads, renovation of old cities, sewage and waste treatment in urban and rural areas, and fathering of ecological environment, will be implemented gradually, which involve a total investment of RMB 200 billion.

It is reported that the compilation of the Overall Planning of Execution for Pilot Reform Zone for Coordinated and Comprehensive Rural and Urban Development of Chengdu was also finished days ago.

Chengdu became national-level biopharmaceutical innovation base

On December 17, the Ministry of Commerce and the Ministry of Technology held in Beijing the tablet-granting ceremony for the second patch of state innovation bases for boosting trade through science and technology. The cities of Chengdu and Zigong have been recognized as national biopharmaceutical innovation base and national new material innovation base respectively. Up to now, including the last year recognized Mianyang Electronic Information Innovation base, Sichuan has already had three state-level innovation bases of such kind, one of four provinces or municipalities which own three state-level innovation bases, the other three provinces being Jiangshu, Jiangxi and Shandong.

Fair for Spring Festival purchases of this year expecting an unprecedented scale

The “12th Sichuan Spring Festival Purchases Fair” sponsored by Sichuan Economic Commission, Sichuan Department of Commerce and Sichuan Alliance of Commerce will be held in mid-next month in Chengdu. The fair with the theme of “Green, Health, Harmony and Development” will surpass the previous ones both in size and quality. More than a thousand of famous companies from all over the country as well as well-known enterprises from Thailand, Mexico, Korea, Japan and Burma, etc, will participated in the event, with their products exhibited in over 30,000 varieties, as learned by the journalist on December 18 from the organizing committee.

It is reported that this fair has five characteristics: an unprecedented scale, ten “festivals in festival” showing one by one, mobilized old Chinese brand names, Chengdu-made and Sichuan-made leading the role and various colorful activities. Purchasing missions from more than 20 provinces and municipalities around the country will come to the grand gathering, and the number of purchasing units is expected to break 20,000.

Allianz marching into second-tier cities of Sichuan

On December 18, Allianz Sichuan branch officially announced the setting up of its marketing services department in Leshan city, which is Allianz’s first marketing services office set up in the second-tier cities in central and west China. Its establishment also marked the formal marching of Allianz into Sichuan’s second-tier cities.

Exports of foreign trade exceeded $5 billion dollars for the first time, Chengdu continuing leading in central and western China

Chengdu Bureau of Commerce held a meeting with media on December 19, announcing that since last year Chengdu’s exports first jumped to the first place in central and western China, this year the exports maintained healthy and fast growth: during January to November, $5.068 billion dollars were realized in exports, an increase of 39.88% year-on-year, which is 13% higher than the national average, and its proportion in the whole province’s rose to 66.24%, ranking first distinctively among 18 major cities in central and western regions.

It is reported that Chengdu has formed export-oriented industrial clusters, led by electromechanical and high-tech products, and bolstered by export innovation bases of advantageous feature industries such as software, shoes, pharmaceuticals and agricultural goods.

Chinese Dead Sea labeled “National Tourism Name Card”

Recently, the 2007 “Aobai Tourism Forum” was held in Hainan province, where the Asia-pacific Tourism Organization, International Association of Travel Dealers and Global Tourism Resources League appraised and chose jointly the first batch of “National Tourism Name Card”. China Dead Sea Resort located in Daying country, Sichuan province, was granted the honored title, thanks to its rich but unique tourist resources, outstanding industrial status as well as driving magnetism, becoming one of marking brands representing Chinese tourism image towards the world.

It is also learned that the 2007 China Economic Forum for Leisure Industry held on December 18, again elected the China Dead Sea Resort as one of the “Ten Characteristic Leisure Bases in China.”.

Marriage with universities, EMC to “store” talents in Chengdu

On December 20, EMC announced in Chengdu that its global non-profitable commonweal education project – “College Alliance Plan” will enter into 5 universities in Sichuan, which are Sichuan University, University of Electronic Science and Technology of China, Southwest Jiaotong University, Sichuan Normal University and Chengdu University of Information Technology. EMC will donate the courses of “Basic Structural Technology of Information” for the public education project to these 5 schools, and Chengdu thus became the region in China with the most number of universities participating in the program.

Geely settled in Chengdu with investment of RMB 2 billion

The foundation-laying ceremony of the Chengdu project of Zhejiang Geely Holding Group was held solemnly on December 21 in Chengdu Economic and Technological Development Zone. The project has a planned investment of RMB 2 billion yuan and secures a land of 700mu for the first phase construction, on which a total area of 180,000 m2 will be built. In addition to facilities for four basic automobile-making crafts, the Chengdu project will construct a spare parts accessory center of West China, a balance center of West China and a R&D center of West China. 60% of its products will be exported and the annual output value will reach RMB 15 billion yuan.

United Circuit marching into Chengdu film market

On December 21, Shanghai United Circuit, reputed as China’s No.1 cinema circuit, formally announced to march into Chengdu film market, and its international movie city in Chengdu was opened the next day. Therefore, Chengdu has 5 big cinema circuits, becoming the city with most circuits in China. It is reported that Chengdu’s film box office hit RMB 90 million last year, and it is estimated that it will break the threshold of RMB 100 million this year, reaching 120 million RMB.

American tycoon hotelier Days Inn next year to open hotels in Sichuan

Next autumn, two office buildings in central area of Chengdu will change their faces and become luxury hotels under the Days Inn Hotel Group, a US Fortune Global 500 company. The journalist learned on December 23 from Days Inn China that they have already finished the selection of the locations, and are ready to open the hotels to public in autumn of next year.

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