Chengdu Investment News: June 30

Monday, June 30, 2008 6:43
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1. Invested with 1.5 billion yuan, first northern five-star hotel to be built in Xindu
The Hong Kong-based Regal Hotels International signed an investment agreement with Xindu District Government on June 14th. According to the agreement, the company is to invest 1.5 billion yuan to build the first five-star hotel in the northern part of Chengdu in Xindu as well as a business district covering 120 mou. It is reported it is the biggest investment Xindu has signed after the Wenchuan Earthquake.

2. Post-quake Chengdu welcomed first newly-established bank and insurance company
Sichuan Branch of Union Life Insurance Co., Ltd opened business in Chengdu on June 16th and it became the first newly established insurance company that started business in the city after the earthquake. In the meantime, China Bohai Bank was approved by the China Banking Regulatory Commission to set up Chengdu Branch. Both the two financial institutions expressed that the disaster would not influence their confidence to invest in Chengdu.

3. Increasing capital in Chengdu, MPS to build China’s biggest simulation IC R&D center
The America-based Monolithic Power Systems (MPS) signed an agreement on June 16th with Chengdu High-tech Zone to increase its original investment of 12 million US dollars to 51 million. MPS Chengdu Company will be built into China’s biggest simulation IC R&D center within five years’ time.

4. Dujiangyan to be built into an international tourist resort in 8 years
According to the deployment of the Party Central Committee and State Council, Dujiangyan city heavily damaged during the May 12th Wenchuan Earthquake was assigned to Shanghai City which will take the responsibility of assisting the reconstruction. At present, Dujiangyan has confirmed the post-disaster reconstruction “358 scheme”, endeavoring to rebuild the hometown within 3 years, revitalize the local economy within 5 years, and reestablish its image within 8 years. According to the plan, the building of Dujiangyan into an international tourist resort will be essentially finished by 2015.

5. Post-quake first Global Fortune 500 factory put into operation in Chengdu
Lafarge Boral Gypsum Asia formally announced on June 18th that Chengdu Lafarge Plaster Building Materials Co., Ltd, i.e. the new factory of Lafarge Plaster Building Materials Chinese Business Section was officially inaugurated and put into operation. It is reported that at the special moment of post-quake reconstruction, the new factory will focus on producing new-type plasterboard building system with higher quakeproof coefficient replacing the traditional brick structure and concrete walling. It is the third production base Lafarge invested in Chengdu, which is also the first Global Fortune 500 factory put into operation after the earthquake.

6. 350 million yuan Shangrun International Headquarters started building in Longtan
The project of Shangrun International Headquarters with total investment of 350 million yuan was started construction on June 19th, which is the third over-100-million-yuan headquarters project started building in the Longtan Industrial Zone after the earthquake. It is reported that the Shangrun International Headquarters is predicted to be finished and put into use in December, 2009, and upon completion, it is a 60,000 square meters base integrated with R&D, sales and financial accounting, capable of realizing tax revenue of over 80 million yuan annually.

7. Four important projects of 2.95 billion yuan settled in Chongzhou
On June 19th, Chongzhou city held a signing ceremony for the post-disaster first-patch important projects, where 4 companies reached agreements worth 2.95 billion yuan with the prefectural city, covering industry, tourism, real estate and agriculture, which are: Guangdong Jiayu Group to invest 2 billion yuan in the Yangma New City to build a standard five-star hotel, large-scale shopping mall and a part of the Yangma New City, Chengdu Lizhen Enterprises Corporation to develop Huaguoshan Ecological Sightseeing Agriculture Zone with 350 million yuan, Songle Electrical to use 400 million yuan to establish an integral intelligent furniture production base and Yantai Wanhua joining hands with Chengdu Lishen Enterprises Co.,Ltd to invest 400 million yuan to build the production base for shoe leather, sofa furniture leather and leather chemical materials, etc

8. 7 projects settled in “Western Wall Street”
To build Chengdu Dongdajie (East Avenue) into the “Western Wall Street” will be once again accelerated! The “Signing Ceremony of Important Projects of Jinjiang District” was held in Chengdu on June 19th, with 12 projects signed, of total investment of 12.65 billion yuan (including 1.25 billion US dollars), involving multiple fields like finance, real estate and hotel management, etc., of which, 7 projects are related to the construction of the East Avenue. It is learnt that currently the line from Yanshikou to Dongdajie have gathered as many as 58 financial institutions including banks, securities and investment companies, the financial business avenue coming into shape, and meanwhile, 8 five-star hotels are being constructed or signed for construction along the line.

9. Investing 14 million US dollars, international cinema “aircraft carrier” arriving in Chengdu
It was learnt on June 22nd from Wuhou District that after the earthquake the so-called “international cinema aircraft carrier” – American CMG International Cinema has signed officially to march into Chengdu market, planning to invest 14 million US dollars in Hongpailou commercial area of Wuhou district to set up the headquarters management corporation of China region; meanwhile, the project to build the country’s top cinema circuit will be kicked off at the end of the year, bringing better visual enjoyment for local citizens.

10.Chengdu furniture industrial cluster awarded the title of “Brand 50 of China Industrial Clusters”
Chengdu furniture industrial cluster was awarded the title of “Brand 50 of China Industrial Clusters” a few days ago at the Industrial Cluster and Brand City Summit and Release of the “China Industrial Cluster Brand 50”, sponsored by the city development and environment research center of China Academy of Social Sciences and China Society for WTO Studies.

11.Chengdu joined in WTA
The application of Chengdu to join in the World Technoplis Association (WTA) has been passed at the 18th Executive Committee meeting of the WTA held in Korea a few days ago. Starting from May 30th, 2008, Chengdu has become a formal member of the association.
WTA is a multiple international cooperation organization, with so far 55 members from 27 countries and regions. WTA advocates international cooperation by setting up communication network sharing experience and information among member cities as well as through various ways.

12. To invest 6 billion yuan, Aux to set up base in Chengdu
The signing ceremony for the settlement of Aux Chengdu Air-conditioners Production Base and its Southwest Headquarters in Chengdu was held on June 26th. According the agreement, Ningbo Aux Group will invest 6 billion yuan in Chengdu Economical and Technological Development Zone to build Chengdu Air-conditioning Manufacturing base and its Southwestern headquarters. Its annual output will reach 3 million units after completion of the project.

13. 8 national-level expositions to be held in Chengdu
At the June 26th-held Chengdu Exposition Industry Promotion Meeting and Signing Ceremony, 8 national expositions, competitions and festivals were officially announced to be held in Chengdu, in the second half of this year or next year, which include China International Credit and Risk Management Conference, International Cooperation Summit for Asia-pacific CEOs & Provincial Governors and Mayors, China Sports & Tourism Exposition, International Tea Convention & Expo, themed exhibition of “Technology reads a dream, harmony welcomes Olympics”, China Esport Games, China International Expo Festival, and Chengdu Forum for Reception of Global Industrial Displacement.

14.Intel China Regional Dealer Summit to be held in Chengdu for first time
More than 100 Intel’s important dealers in China will gather in Chengdu this week to participate in the annual China Regional Dealer Summit of Intel, which is also its first time to be held in the city, confirmed with the journalist by Intel China on June 29th. It is revealed that Intel will start up the aid scheme of distribution channels to the disaster area.

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