Chengdu Investment News: June 15

Sunday, June 15, 2008 1:19
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1. 80 Jetta cars produced daily, Chengdu FAW’s production line capacity fulfilled
Information from the development bureau of automotive industry of the Chengdu Economic and Technological Development Zone on May 25th, Chengdu Faw Co., Ltd, leader of Chengdu automotive industry, produces 80 Jetta cars per day, having fulfilled the production line capacity, and have also achieved the planned annual production of 20,000 vehicles. It is learnt that Chengdu FAW with its official rollout on July 19th last year has since developed vigorously: the company produced 3,006 vehicles and all sold out during the first quarter, having realized 26.84 million yuan of revenue and 13.22 million yuan of profits.

2.BOE planned to increase investment in Chengdu project
It is reported that BOEA, magnate of LC panel in China, announced a few days ago that it planned to use self-possessed funds to add investment of 240 million yuan to Chengdu BOE photoelectric technology Co. ltd, to ensure the construction of its 4.5 TFT-LCD production line project in Chengdu as planned; meanwhile, it also declared that the registered capital of the joint venture in Chengdu will be augmented from the previous 30 million yuan to 1.1 billion yuan, which will be effectuated at appropriate moments later on.

3. With total investment of 8 billion yuan, construction of Chengdu International Trade Center kicked off
The 2008 important project of Sichuan provincial, Chengdu municipal and Jinniu district governments – Chengdu International Trade Center was laid its foundation stone officially on May 30th, which will be the biggest modernized comprehensive commercial distribution center in central and western China upon completion, pushing the formation of the production-oriented services sector in northern part of Chengdu; meanwhile, the old distribution markets such as the Lotus Pool and Wukuaishi situated in the central city will be moved to the new site, therefore upgrading the whole commercial business in Chengdu.
The total investment of the Chengdu International Trade Center is 8 billion yuan, the first section of which is carried out by Yixia Chengdu Trade Center Stock Co. Ltd with 2.5 billion yuan. The center will have more than 15,000 shops, integrated with the R&D, production, processing, exhibition, negotiation, exchange and e-commerce of small commodities, serving as a modern commercial platform of biggest size in central and western China, with turnover of more than 30 billion yuan annually.

4.76 projects settled in Wuhou district, with total investment of 2.2 billion yuan
In response to the appeal of the Chengdu CPC Committee and Municipal Government that “one hand acts on disaster relief and the other on economic development”, for a number of days, Wuhou district were working earnestly to combat the earthquake and relieve damage, while actively to resume the normal production, living and working order, and sparing no effort to promote the economic and social development. At present, 284 large-scale companies within the district have resumed production. At the same time, breakthrough advances have been made in the promotion of investment: Shanghai Bank Chengdu Branch and China Heavy Machinery Research Institute Western Section have settled in the district; 76 projects were also concluded there only in the month of May, with total investment close to 2.2 billion yuan.

5. Rebuilding Dujiangyan with brainpower of 10 institutions from around the world
After three days’ tense selection, on June 3rd, Chengdu City Planning Conservancy finally chose 10 units from 47 candidate organizations (universities) from all around the world, who will participate in the conception design of reconstruction of post-disaster Dujiangyan. It is learned that the 10 units will become the brainpower of the city for reconstruction planning, providing solutions and suggestions in such eight fields as reconstruction mode, city orientation, use and re-exploitation of quake-ruined resources, industrial support, urban and rural pattern, installation of disaster victims. Report will be finalized in mid July for further discussion and demonstration.

6.4 companies signed contracts of 4 billion yuan with Qingyang district
On June 4th, Celebrity City Hotel, Hong Kong Great China Parking lot, Chengdu Hanjing Industry Co. Ltd, and Sichuan Mengbao Industry Co. Ltd signed investment agreements with Qingyang District, amounting to 4 billion yuan.

It is reported that Celebrity City Hotel (China) Co. Ltd will increase its investment to 100 million US dollars and move its China section headquarters from Hong Kong to Qingyang district; Great China Group will invest 1 billion yuan in the construction and operation of parking lots in Chengdu; Hanjing Industry plans to infuse more than 1 billion yuan to build the Tianfu Square core business building complex; Mengbao is ready to add 1 billion yuan for the construction of Mengbao headquarters building and terminal projects in Qingyang district.

7.Resolution to invest in Chengdu not changed, ASM to construct Chengdu R&D base with 30 million US dollars for first phase
“The trend of development of Chengdu software industry will not change, so does our investment resolution. Our recent investment in the city is a best demonstration.” On June 4th, the world’s biggest semiconductor encapsulation equipment producer and provider ASM Pacific Technology Ltd signed a cooperation agreement with Chengdu High-tech Zone, to set up its R&D center for semiconductor encapsulation and testing equipment, whose business and research will cover the whole southwest China.

8. 500 million yuan concluded after earthquake, investors’ confidence in Chongzhou unchanged
On June 5th, WEBFORGE from Australia, a biggest press welding steel grid section producer in the world, signed ahead of schedule with Chongzhou City, to invest 4.5 million yuan to build a production base of press welding steel grid section in Chongzhou.
It is introduced that 6 important projects have been settled in the industrial zone of Chongzhou since the earthquake of May 12th, with total investment close to 500 million yuan, among which, Ningbo Songle Relay Electrical Appliances Company invested 300 million yuan to form a manufacturing base for kitchen and toilet appliances; Sichuan Meigao Kitchen Equipment Company invested 40 million yuan to build a production base; WEBFORGE invested 45 million yuan for the press welding steel grid section manufacturing base.

9.West China’s biggest refuse incineration power project settled in Chengdu
It is reported that Covanta Energy Group Inc, American biggest refuse power company and world famous investor and operator of refuse incineration power, together with Chongqing Iron&Steel Group registered Chengdu Jiujiang Environmental Protection & Electricity Generation Co., Ltd in Jinniu District, combining efforts to build the Jiujiang refuse power project in the city. With total investment of 667 million yuan, it will become the biggest modernized refuse incineration power plant in West China after completion.

10. Shuangliu County signed 17 projects of total 14.5 billion yuan at first West China Photovoltaic Industry and New Energy Development Forum
At the first West China Photovoltaic Industry and New Energy Development Forum held on June 6th, Shuangliu County signed 17 projects with total investment of 14.53 billion yuan, involving photovoltaic and photoelectricity, new energy, mechatronics and aerial services.
Sichuan Yibin Global Co. Ltd will invest 6 billion yuan in the Southwest Airport Economic Development Zone (SAEDZ) for the ultrawhite glass and PDP lead-free frosting project; Rainbow Optoelectronics Material Shanghai Co. Ltd is to invest 3 billion yuan in the SAEDZ to build production lines of semiconductor LED chips, exhibition base and high-end hotel; Shenyang Yuanda Aluminum Engineering Co. Ltd will engage 700 million yuan in the elevator manufacturing and new construction materials processing in the zone… It is reported that among the projects signed on that day, 9 are industrial projects, with agreed investment totaling 10.9 billion yuan, 3 logistics projects of agreed 360 million yuan, and 5 belong to the category of commerce and others, amounting to 3.27 billion yuan.

11. Post-disaster Pengzhou’s breakthrough, first large-scale agriculture project signed
The project of the Mengyang Farm Produce Distribution Center of Pengzhou city was formally signed on June 7th, covering a land of 2,000mou, with total investment estimated at 2 billion yuan, which will be constructed in two phases within 5 years. The first phase, with 1,000-mou land and 1-billion-yuan capital involved, will be completed within 2 years. By then, the distribution center will become the biggest modern agricultural logistics center in West China, providing 10,000 job positions locally.

12.Xindu district: nearly ten billion yuan were signed in one month
From early May till now, Xindu district has signed agreements of total investment close to 10 billion yuan, which include the projects of the “West China Engineering Machinery Show Center” of roughly 800mou and planned investment of 1 billion yuan, high pressure vessel and high pressure steel bottle, Wuliangye Anji Logistics Chengdu Storage & Distribution Base, Chic Logistics Chengdu Storage Center and Wuxi Diesel Engine Southwest Allocation Center, etc.

13. Chengdu listed in “Global Business Centers”
The MasterCard International published on June 9th a combined index report on global business centers, in which 5 cities from mainland China were listed: Shanghai (24th), Beijing (57th), Shenzhen (60th), Chengdu (72nd) and Chongqing (73rd). Besides, Hong Kong ranked the 6th while Taibei the 22nd.

The list published by the MasterCard International synthesized 6 important indexes which include the economic stability, business convenience, financial market level, business center status, knowledge innovation and information circulation level, as well as law and political systems.

14. 90 million US dollars Tulip “blossoming” in Chengdu
On June 12th, Asia’s biggest network developer and operator of outdoor large-scale LED display screen – Tulip Mega Media signed the investment agreement with Chengdu High-tech Zone to set up in the zone its Multimedia Technology R&D Center, whose registered capital is 30 million US dollars and total investment predicted to reach 90 million US dollars.

15.“Chengdu Shopping Festival” to be held from June 20th to July 20
Chengdu municipal government has decided to hold the big event “Love Chengdu, love life – 2008 Chengdu Shopping Festival” from June 20th to July 20th. Numerous merchants have registered to participate in the shopping festival and promised to launch various discount promotions for customers during the period, learned the journalist from Chengdu Exhibition Office on June 13th.
“Shopping” is the key content of this festival, which will drive the recovery of services sector such as tourism, catering, entertainment and hotel, showing and letting experience the safe, comfortable business environment of Chengdu, so as to strengthen the confidence of consumers and investors.

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