Tianjin Investment News: June 2008

Saturday, July 5, 2008 2:21
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On the afternoon of May 28, 2008, the 18th Asian Corporate Conference of Asia Society was opened in the Convention Center of the Renaissance Tianjin TEDA Hotel in TEDA, Tianjin Binhai New Area. The theme of the conference is “a new era for global business: sustainable growth for China and the world”. The three-day conference attracted 1,100 people, including political leaders, celebrities from economic and academic circles, and CEOs and senior executives of multinationals from over ten countries and regions of the Asia-Pacific region attended the three-day conference. The conference involved an opening ceremony, keynote speeches of government leaders, speeches given at meetings, and seminars on specific topics, etc. (Tr. by Chen Yu)

The working meeting for state-level eco-industrial parks was held in TEDA from May 20th to 21st with the presence of the Ministry of Environmental Protection, the Ministry of Commerce, and the Ministry of Science and Technology. The meeting, highlighted by the theme of scientific development concept, has briefed the progresses and experiences in the development of state-level bio-industrial parks and released next-step work plans. Ms. Fu Wenjuan, Member of the Party Leading Group of the Ministry of Environmental Protection and Commissioner of CPC Central Commission for Discipline Inspection at the Ministry of Environmental Protection, Ms. Ma Xiuhong, Vice Minister of Commerce, and Mr. Cao Jianlin, Vice Minister of Science and Technology granted certificates to China’s first batch of accredited state-level eco-industrial parks such as TEDA, Suzhou Industrial Park and Suzhou National New and Hi-tech Industrial Development Zone.

By concept, an eco-industrial park is a new form of industrial park designed to fit in the theories and requirements of circular economy, industrial ecology, and clean production. Companies within the park can achieve coordinated development and yield fair profits through exchange of byproducts and wastes amongst themselves, classified utilization of energy and sewage water, and sharing of infrastructures. Currently, there are altogether 54 state-level economic development zones and 54 state-level hi-tech development zones in China, among which 26 have been approved to build themselves into eco-industrial model parks. During the meeting, the building of eco-industrial parks should be accelerated and related policies should be promulgated in state-level economic development zones, state-level hi-tech development zones and other types of industrial parks with a purpose to encourage circular economy and set role models for future’s environmental-friendly and resource-saving development zones.

With ever-growing economic aggregate over the past two decades, Tianjin has always take energy conservation, pollution reduction, pollution prevention, environmental protection and urban landscaping as integral parts of its economic growth and its sustained efforts has presented visible results everywhere in the city. By the end of 2007, its energy consumption per 10,000 yuan GDP dropped 4.9%, SO2 emission down by 4.03%, and COD (Chemical Oxygen Demand) down by 4% on a y-o-y basis, overfulfilling the environmental targets set force by the Central Government. Its three pilot eco-industrial zones, namely, TEDA, TPFTZ, and the Tianjin High-Tech Developmental Zone have all been actively involved in a variety of the eco-industrial projects. (Tr. by Zhang Shanshan)

Recently, Chairman of the TEDA Administrative Commission, Mr. He Shushan and Board Chairman of the Orienwise Holding Group, Mr. Zhang Kaiyong, signed an investment investment cooperation agreement at the TEDA Investment Service Center. That shows that Orienwise is going to initiate the relevant business in TEDA.

The China Orienwise Holding Group is the largest private group engaging in commercial guarantee in China. Its business mainly covers commercial guarantee, personal financial service and financial intermediary services. The group holds shares of companies in cities like Shenzhen, Beijing, Shanghai and Guangzhou and owns 11 guarantee insititutions with the independent legal person identity. their registered captial altogether amount to 3.2 billion yuan. Up to April of 2008, Orienwise’s gurantee business reached over 65 billion yuan accumulatively. Its fast and healthy growth also has gained the interests of internaional investors. The CitiGroup, Asia Development Bank, the Carlyle Group and the GE Capital have all bought shares of Orienwise and the group has raised foreign capital of over USD 230 million.

By signing this investment cooperation agreement, Orienwise intends to set up a guarantee company of independent legal person identity in TEDA, with registered capital of 200 million yuan. Within a period of five years, the capital of this company will be increased to 500 million yuan. (Tr. by Liu Xiaojing)

Recently, TEDA signed a cooperative agreement with PPF, a Czech financial group. The two sides agreed to work together on the financial front in Tianjin. Before the signing ceremony, Mr. Cui Jindu, Standing Member of Municipal CPC Committee and Deputy Mayor of Tianjin met with a delegation led by Czech Ambassador Vitezslav Grepl and Jiri Smejc, a key shareholder of PPF Group.

Established in 1991, today’s PPF Group has grown into the biggest financial service provider in eastern and central Europe with a diversified business portfolio ranging from insurance, consumer credit, retail banking, pension insurance, asset management, to collective investment. According to the current agreement, PPF will set up a financial service company in TEDA, which is expected to be the headquarters for its financial business in North China. This move will definitely inject more energy into the ongoing financial reform of Tianjin Binhai New Area (Tr. by Zhang Shanshan)

Recently, FAW TOYOTA began the construction of its 4th phase project and R&D center for the production expansion of Crown cars.

FAW TOYOTA is going to put in 1.5 billion yuan to boost its production of luxuary sedans. For the production of its new Crown model, it is going to build assembling-welding, painting, general assembly, polyester workshops and the sewage disposal station, which cover an area of 80,000 m². It will also starts to construct the R&D Center simultaneously. Upon the completion of the project, FAW TOYOTA’s second facility in Tianjin will be able to produce an additional of 50,000 Crown cars annually and increase sales revenue of 15 billion yuan. (Tr. by Liu Xiaojing)

Recently, the property management contracts for Tianbin Apartment and Tianrun Apartment were nailed down at TEDA Investment Center. Mr. Sun Sheng, Vice Chairman of TEDA Administrative Commission attended the contract signing ceremony and warmly welcomed the delegation of Shenzhen CATIC Property Management Co., Ltd. led by its Vice Managing Director Zhang Li.

After a brief meeting, Shenzhen CATIC Property Management Co., Ltd, TEDA State-owned Asset Management Company, and Tianfu Property Management Company jointly signed the property management contracts for Tianbin Apartment and Tianrun Apartment.

As a subsidiary of Shenzhen CATIC Real Estate Co., Ltd., the Shenzhen CATIC Property Management Co., Ltd. was established in 1992 with a registered capital of 20 million yuan. The company is one of the country’s earliest Class-A property management companies, a brand-name company in Shenzhen, and now acts as the vice chairman of China Property Management Institute (CPMI). With an annual revenue of over 400 million yuan, it ranked number three on China’s first Property Manager Golden List in January, 2007 in terms of comprehensive strength and kept its leading ranking in the industry for three successive years.

It is learned from the TEDA Infrastructure Construction Center that the design plan for the TEDA No. 5 Kindergarten has been completed and construction will begin in the later half of this year.

This construction project is one of the 12 projects in TEDA’s effort to improve its investment environment and build a harmonious TEDA. It is located at the south of the First Avenue. To its east is Chaohu Street and to its west is Hongjiweiye residential community and to its south is Shunda Street. Its total planning area is 6,843 m² and total floor space 3,539 m².

At present the project is under initial preparation. After its construction, the project is going to boost the educational condition of TEDA and attract more talented young people to live and work in TEDA by providing better educational condition for their children. (Tr. by Liu Xiaojing)

Recently a delegation led by Mr. Narusawa Takashi, Executive Vice President and Vice Chairman of Nomura Research Institute (NRI) of Japan, visited TEDA. Mr. Li Yong, Secretary of Leading Party Group of the Administrative Commission of TEDA met with the delegation in the Investment Service Center of TEDA.

Mr. Li welcomed the guests of NRI, introduced the latest development of TEDA and offered his thanks to NRI for compiling the book Tianjin Binhai New Area—China’s Third Economic Engine. He said that the book played an important role in enhancing the understating of Japanese economic circle on Tianjin Binhai New Area (TBNA) and TEDA and promoting TBNA and TEDA to the outside world. He hoped that NRI would continue to support TEDA in financial services, energy conservation and environmental protection, etc. and propel exchanges and cooperation with TEDA in the future.

Mr. Narusawa Takashi said that NRI was the largest management consulting firm in Japan. It was not only successfully in consultation but quite competitive in capital operations and software development. NRI paid close attention to the development of Tianjin and TEDA and hoped to keep strengthening relationship and expanding cooperation with TEDA. (Tr. by Chen Yu)

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