Chengdu Investment News: July 17

Thursday, July 17, 2008 3:00
Posted in category China's Other Cities

1. US Secretary of State Rice visited Dujiangyan
In response to the invitation of Chinese foreign minister Yang Jiechi, US Secretary of State Condoleezza Rice leading a delegation of over 60 members arrived in Chengdu on June 29th, and moved on to Dujiangyan for a visit, which was severely hit by the Wenchuan Earthquake. Rice is so far the highest-ranking American official to have visited the disaster area.

She said, she was impressed by the speed of recovery and reconstruction of the quake-hit area in China, and deeply moved by the fortitude and optimism the suffering people have exhibited, and here she has seen that the humanity could truly recover from the devastating natural disaster and observed the great spirit of Chinese people.

2. Three policies supporting development of Chengdu’s industry and tourism
On June 29th, the Press Office of Chengdu municipal government held the third press conference on post-quake reconstruction, announcing that the production and market recovery of industries and tourism of the city after the earthquake as well as relevant supportive policies, namely the “Management Measure on Loan Discount of Newly-added Circulating Fund for Production Revival of Post-disaster Industrial Companies in Chengdu”, “Management Measure on Loan Discount of Technical Reform on Full-run Project for Post-quake Reconstruction of Industrial Companies in Chengdu” and “Provisional Suggestions about Promotion of Recovery and Development of After-quake Tourist Industry”.

It is reported that up to now, Chengdu’s large-scale industrial companies have recovered 101.4% of its pre-earthquake production level; major tourist sites and routes have resumed its normal reception!

3. To make annually 460 million steel pop cans, Baosteel Chengdu project put into production
The landmark company of Baosteel Group in western China – Chengdu Baosteel Tin-making Co. Ltd started production officially on June 30th in Xindu district. The project invested by Shanghai Baosteel with 340 million yuan will make per year 460 million steel tear-off tins worth 300 million yuan, which will optimize the city’s industrial structure and promote the harmonious development of the regional economy.

4. With 3 billion yuan, Chengdu industrial park upgraded to “Western Wit Valley”
Transforming and upgrading from traditional industrial manufacturing to industrial services, Chengdu’s first fully intellectualized industrial park “Western Wit Valley” – the Wuhou Western Technology New City, with its construction started formally on June 30th, will be built into a brand-new industrial park for global industrial services providers to invest in Chengdu, whose estimated investment is nearly 3 billion yuan in total. After completion, the “Western Wit Valley” will gather famous companies’ regional headquarters, technology R&D and service-outsource centers, IT software and animated innovation parks as well as business creation bases for medium and small-sized companies.

5. Memorial Temple to Wuhou and Du Pu Thatched Cottage became first-grade national museums
Chengdu’s Memorial Temple to Wuhou museum and Du Pu Thatched Cottage museum have become the first-grade national museums, learned the journalist on June 30th at the plaque-awarding ceremony for the first-patch top-grade national museums of Sichuan province, where 5 museums were selected this time into the list of top-level museums of the State.

6. Qindao Beer’s Chengdu factory formally put into operation
On July 1st, Qindao Beer’s Chengdu beer factory was put into production officially. According to Sun Yue, President of Qindao Beer (Chengdu) Co., Ltd, the Chengdu factory is its second beer factory in Sichuan after the group’s acquisition of Luzhou Beer factory in 2001; having a total investment of 800 million yuan, the factory is designed to produce 400,000-ton beer annually, with so far 100,000-ton production lines put into operation for the initial period.

7. Finland came to Chengdu and built technology cooperation platform
On July 1st, the FINPRO of Finland signed with the Chengdu High-tech Zone and EU Project Incubation Center a memorandum of cooperation on Sino-Europe Technology Platform, agreeing that the two parts will develop economic and trading cooperation in high-tech fields such as IT, ICT, biomedicine and energy conservation and environment protection, which indicates Chengdu’s high-tech companies go more quickly and smoothly via this platform into Finland and the European market.

It is reported that up to now, the EU Project Incubation Center located in the Chengdu High-tech Zone has signed the Sino-European technology & business cooperation memorandums and established long-term cooperative relationship with over 10 European countries including Britain, Germany, France, Italy, Netherlands, Denmark, Ireland and Spain.

8. West China’s first electromechanical device installation services company settled in Xinjin
On July 2nd, Xinjin County signed an agreement with Carrier Asia Corporation, subsidiary of American United Technologies Corp., a Fortune Global 500 company, according which the company will explore the electromechanical device installation business in West China, which is expected to turn out 100 million yuan annually!

9. Cooperative agreement on Taikoo Sichuan Aircraft Maintenance project signed
Sichuan Airlines Group, Hong Kong Aircraft Engineering Company Limited, Taikoo (Xiamen) Aircraft Engineering Co.Ltd and Sichuan Haite High-tech Co., Ltd together signed a cooperative agreement of the Taikoo Sichuan Aircraft Maintenance project on July 2nd, which marked the settlement of China’s biggest specialized Airbus aircraft maintenance base in Chengdu.

Taikoo Sichuan Aircraft Engineering Services Company Limited invested with approximately 1.2 billion yuan will engage in related services of repair and refitment of Airbus aircrafts, airline maintenance, FTM and ITM. The project will be built in four phases, and upon completion the base can handle simultaneously the repair and maintenance of four A340 and four A320 aircrafts, providing more than 3,000 technical jobs. Its establishment will fill in the gap in Chinese market where for the moment exists no such specialized maintenance base for Airbus aircrafts.

10. Chengdu Wuhou district signed cooperative agreements with 17 companies
Wuhou district recently held an investment introduction meeting in the International Conference Center in Hudong, Shanghai, during which it signed cooperative agreements with 17 companies including Shanghai Bank, Shanghai Minch (Group) Company Limited, Caterpillar (China) Investment Co., Ltd, Shanghai Wiselogic Investment Group, Zhejiang China Automobile Group, Guangda Group, Shanghai Darunfa Co., Ltd and Rainbow Stock Co., Ltd, etc, with investment totaling 6.43 billion yuan.

11. Strategy of western logistic hub entered into complete implementation
The Chengdu Railway Container Terminal, whose construction was started on July 3rd and will last 18 months, with estimated investment of 1 billion yuan, will become China’s largest inland port connecting those of Shanghai, Shenzhen, Qingdao, Tianjing and Ningbo, equipped with the function of customs clearance upon completion, which will largely upgrade the leadership of Chengdu in the western logistics system.

12. With 3.6 billion yuan, SFTM to build new factory
On July 5th, the relocation and expansion project of Sichuan FAW Toyota Motor Co., Ltd co-invested by China FAW Group and Japan Toyota Motor Corp. was put into construction as scheduled. It is reported that the new factory located in Chengdu Economic and Technological Development Zone, which has a total investment of 3.6 billion yuan and covers an area of 450,000 square meters, is more than 2 times bigger than the present one, and is planned to be finished and put into use in the first half of 2010. After completion, SFTM will move from the present site to the new factory and enlarge its production scale, making the productivity of PRADO and COASTER reach 30,000 units respectively.

13. Overall development of ten thousands blueberry industry in Qingcheng Mountain town kicked off
On July 8th, the “blueberry industry overall development project” of Chengdu Renhe Qingcheng Ecological Agricultural Development Co., Ltd was kicked off in the town of Qingcheng Mountain, Dujiangyan City. It is reported that the project of total investment of 146.6507 million yuan, is to be completed in four phases, with the first phase to construct ten-thousand-mou standardized plantation base and a blueberry germchit nursery with over 70 million yuan. After the completion of construction, the base will produce quality blueberry of 5000 tons per an, making Dujiangyan the biggest production and processing base of blueberry in China.

14. Receiving industrial relocation, Pixian signed bills of 22 billion yuan
On July 9th, a signing ceremony for the reception of industrial relocation projects was held grandly in Pixian County, during which 41 companies signed investment agreements with Pixian, totaling 22.016 billion yuan. It is introduced that among the signed projects are 4 agricultural projects with total investment of 956 million yuan, 20 industrial projects with 9462 million yuan, 11 services projects with 8148 million yuan and 6 urban construction projects with 3450 million yuan, whose characteristics include comprehensive industrial categories, wide business range, important investment, good economic anticipation, and higher proportion of investment from outside provinces which highlight the reception of industrial transplants.

15. First foreign airways set up office in Chengdu after the quake
As one of the five-star airline companies, Qatar Airways recently has set up a representative office in Chengdu. It is reported that this is the first foreign airline company to have set up a representative office in Chengdu after the Wenchuan Earthquake, which is also Qatar Airways’ first initiative to lay a strategic point in West China.

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4 Responses to “Chengdu Investment News: July 17”

  1. sascha says:

    July 22nd, 2008 at 8:03 pm

    Excellent breakdown of Chengdu’s post-quake reconstruction and investment environment. I lived in Chengdu for 6 years and wrote extensively about the place … and every day something new pops up.

    The government needs people like you to publicize their efforts abroad. There are misconceptions about the scope of the damage of the earthquake and also a lack of information (for foreign audiences) about the scope of reconstruction.

  2. Rich says:

    July 23rd, 2008 at 9:14 pm

    Sascha.

    I am fortunate that they send this to me directly in such a neat package. Makes it really easy to promote them!

    R

  3. sascha says:

    July 24th, 2008 at 5:48 pm

    yeah i read the same site … ChengduInvest .. but if you check the web for anyone else popping the information up or doing a bit of analysis, basically no one … if you know of other good sites let me know. I read a bit of Chinese, so i try this type of site every so often

    http://cd.focus.cn/news/2008-06-23/490138.html

  4. peter says:

    July 29th, 2008 at 10:58 pm

    Sascha i totally agree
    Peter