Chengdu Investment News: March 1, 2008

Saturday, March 1, 2008 7:43
Posted in category China's Other Cities
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With a couple weeks off for the Chinese New Year, the City of Chengdu has wasted no time in getting back into the news room to produce another newsletter… and as it turns out, they have good reason to.

1. Chengdu Ranked No. 2 in China
The large television activity “Top Chinese Cities’ most valuable cities to be introduced to the world”, jointly launched by CCTV, the United Nations World Tourism Organization, the United Nations Development Programme and other agencies, as well as the National Geographic Channel and other more than 100 common authority media at home and abroad, held its annual Festival in the Beijing Exhibition Hall on January 31 and announced to the world 10 Chinese cities most valuable to be introduced to the world, including Hangzhou, Chengdu, Dalian which ranked in the top three.

2. Nokia’s biggest partner TietoEnator settled in Chengdu
On January 30, Northern Europe’s biggest IT services provider, and Nokia’s globally most important partner and software development services supplier TietoEnator (Finland) formally announced that its second R&D center in China was to be settled in Chengdu High-tech Zone, which will also be its second base for telecommunications and media businesses in China.
It is revealed that TietoEnator will implement the personnel strategy of “localization” in the Chengdu center, which is estimated to have about 100 employees this year and 500 within three years.

3. Finnish minister for foreign trade and development Paavo Väyrynen leading a delegation came to Chengdu
On January 30, Paavo Väyrynen, minister for foreign trade and development of Finland, leading a Finnish business delegation came to Chengdu. During the “Sichuan-Finland Trade Cooperation Exchange Meeting” held by Sichuan Provincial Department of Commerce and the business division of Finnish Embassy in China, over 30 Finnish entrepreneurs from sectors like telecommunications, environment protection, finance, insurance, chemical industry, manufacturing, consulting, electronics and aviation, have had face-to-face meetings with representatives from more than 60 companies in Sichuan.

On the same day while meeting with Mayor Ge Honglin, Väyrynen expressed that at present inland part was doing the prophase investigation on the opening of direct flight of Chengdu to Helsinki, and also had intention to set up a trade representative office of Finland in Chengdu.
It is reported that last year, the imports and exports of Sichuan with Finland reached 21.60 million US dollars, with main export commodities involving electromechanical products, audiovisual equipments and accessories.

4. American Vivo Ventures Signed a cooperation fund memo with High-tech Zone
On February 3, American Vivo Ventures signed with Chengdu High-tech Investment Group a cooperation memorandum, in which two parties agreed to invest jointly 150 million yuan to set up a business investment company. The city therefore will have the first venture investment enterprise with foreign shares in the field of biomedicine in West China, supporting primarily small and medium-size enterprises in High-Tech Zone engaging in technology innovation, promoting the transmission and industrialization in the zone of biomedicine projects from home and broad, accelerating the growth and maturity of SMEs and boosting the development of biomedicine in Chengdu.

5. In quality security of aquatic products, Chengdu ranked first in China
Recently the Ministry of Agriculture has published the first quality security examination report in the year of 2008 on aquatic products in 26 cities across the country. Upon the three indicators which were selected randomly, chloramphenicol, malachite green and nitryl furan metabolized substance, Chengdu’s pass rate is 100%, which made the city ranked first together with Shanghai, Wuhan and Haikou in China.

6. Jinjiang district won the title of China’s most active zone and premier investment place for private economy
It was learned on February 17 from Jinjiang district that at the Research Achievements Report Meeting on Vitality of Private Economy of Chinese cities held a few days ago at the Great Hall of the People in Beijing, the district had won the titles of “China’s most active zone (city, county) for private economy” and “China’s premier investment place for private economy”, competing with other 30 candidate cities around the country.

7.Total investment of 8.2 billion yuan in sewage treatment to infuse fresh “blood” in Three Gorges
It was learned recently from Sichuan Bureau of Environment Protection that the State had officially published the Plan of Prevention and Control of Water Pollution of Three Gorges Reservoir and Its Upper Reaches Zone (Revision), which has classed 20 urban regions and 14 counties (cities, districts) of Sichuan respectively into the influenced area and the upper reaches part of Three Gorges Reservoir Zone, where during the “11th five-year plan” period, an estimated 8.151 billion yuan will be invested in constructing sewage farms and garbage disposal plants and controlling industrial polluting sources so as to provide water of quality II for Three Gorges Reservoir. Such act will definitely inject a “cardiac stimulant” to the goal of Sichuan to construct “Ecological Sichuan and Green Land of Abundance”.

8. On Services outsourcing, Chengdu made 27 billion yuan last year
On February 19, Sichuan’s first annual report on services outsourcing was officially published. In 2007, Sichuan had in total 265 contracts of services outsourcing registered by 28 enterprises, amounting to 8 million US dollars, up 67.8% year-on-year. Notably, 27 of these companies are from Chengdu. There were 15 outsourcing services providers having passed the authentication of CMMI in Chengdu; the local industry has employed over 100,000 persons and provided close to 20,000 newly added job vacancies in last year, and the annual revenue of services outsourcing totaled 27 billion yuan.

9. Qingyang industrial headquarters base won the title “China’s best headquarters base”
On February 19, good news from the Industrial Concentration Development Zone of Qingyang District, Chengdu: Qingyang Industrial Headquarters Base has received the honorable title “China’s Best Headquarters Base 2007” which was awarded jointly by the Ministry of Construction, China Real Estate Association and West China Media Union.

10. Sichuan Zigong Geological Park succeeded its application of world geological park
February 26, information from Paris, France: the expert jury of world geological parks of UNESCO has announced that Sichuan Zigong Geological Park is included into the World Geological Parks.

11. Flight route Chengdu-Beijing-Seattle to be formally opened on 9 June
It was learned on February 26 that Hainan Airlines will use the Sino-American new flight right to open the international airline Beijing to Seattle in June; in the meantime, Chengdu will open its indirect flight of Chengdu to Seattle via Beijing.

12. Pacific Insurance set up backup center in Chengdu
Chengdu’s construction of financial backup services center has made another step forward. On February 27, the person concerned from the Pacific Insurance Group revealed to the reporter that the company will invest 800 million yuan to set up its second back-up center at High-tech zone in China. The center covering the whole southwestern region will provide various backup services such as IT, claim settling, calling, training and data backup.

13. For investment in Chengdu, government added new encouraging categories
Chengdu has embarked on the revision of the 2006-edition Chengdu Industrial Investment Guiding Catalog, which will add such sectors as biochips, complete vehicle manufacturing, new solar batteries and materials into the encouraging categories for development; meanwhile, as for the items in the prohibited categories, the restriction principle of “submission to higher standard” is adopted. Recently, the Chengdu Industrial Investment Guiding Catalog (2008-revised) has been released officially by the municipal government.

14.In the first half of year, Chengdu’s first clinic for foreigners will open
Foreigners working and settled in Chengdu will have more “international” medical care services. During the first half of year, Chengdu’s first clinic dedicated to foreigners will be put into operation, which is to be established in the No.1 People’s Hospital of Chengdu.

15.Biggest size, China’s top electronic pageant first came to Chengdu
The 13th International Integrated Circuit Workshop and Exposition (IIC-China) organized by Global Resources – a world leader in information industry and listed company in Nasdaq, is being held on February 28 to 29 in Chengdu.
IIC-China is an important annual industrial meeting for integrated circuit and semiconductor design, which has been held successfully in last 12 years, and it is its first time to land on Chengdu. It is reported that the number of exhibitors increased by 40% this year, and over 30,000 engineers are estimated to visit this exposition.

16. 3.7 billion yuan in investment, China Aluminum’ aluminum foil base to be laid in Xindu
On February 29, invested by Aluminum Cooperation of China, Asia’s biggest specialized production base of light gauge foil was laid with its first foundation stone in Xindu district, and is estimated to be completed and put into use in three years. It is reported that the project after completion will have annually 100,000 tons of production capacity of light gauge foil with estimated sales revenue of 3.5 billion yuan, averagely paying taxes to reach 240 million yuan during the yield period.

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