Chendgu Investment News: September 15, 2008

Monday, September 15, 2008 22:16
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1. First-phase investment of 600 million yuan, Chengdu large-scale airplane project to start end of next month
With the first phase investment of 600 million yuan, the Chengdu project of development of production conditions for large-scale airplanes is to be started at the end of next month, which marks the entering into the actual implementation of the eye-catching Chengdu Large-scale Airplane project. According to Li Qing, assistant general manager of CAC Civil Aircraft Co., Ltd of CAIC I, the project plans to set up a specialized airplane head base as well as a specialized production center of forebody for large aircrafts of various types including planes serving on trunk and minor airlines. “The project, upon completion, will combine the advantages of Chengdu and make the city the second biggest manufacturing base of large-scale aircrafts in China.

2. CECIC’s Pengzhou project commenced
The new-type wall material projection line invested with 500 million yuan by China Energy Conservation Investment Corporation was commenced with the foundation stone laid officially on August 28th in Pengzhou. It is reported that the project covering 160 mu, will be divided into two phases to build 5 new wall material production lines of shale gangue sintering, producing various new-type construction materials replacing clay brick, with such characteristics as high intensity, high heat preservation, heat insulation and sound insulation.

3. Among best business cities in mainland China, Chengdu rose to 12th

On September 2nd, the chart of top business cities of mainland China of Forbes was released, with Chengdu ranking 12th, up 2 places from last year. It is reported that the Forbes chart targeted 652 cities in mainland China, of which documented and studied were 194 cities with GDP exceeding 19 billion yuan in 2006. Entrepreneurs and private capital vitality remain the main criteria for Forbes to assess a business city.

4. 2008 West China (Chengdu) chemical, petroleum and gas technical equipment exposition held in Chengdu

The Southwestern Petrochemical Technology Exchange Symposium and 2008 West China (Chengdu) Chemical, Petroleum and Gas Technical Equipment Exposition was held in Chengdu from September 3rd to 5th.

It is learnt that the expo has attracted more than 120 petrochemical equipment manufacturers from home and abroad including the U.S., Germany and Austria, who brought to exhibition the most advanced and up-to-date technical products and equipments.

5. Chengdu first entered pilot cities for innovation of scientific and technological insurance of second batch

On September 3rd, published was the appraisal result of establishment of the second-batch pilot cities for innovation of scientific and technological insurance: Chengdu, upon approval of the Ministry of Science and Technology and China Insurance Supervisory Committee, has officially become the national pilot cities for innovation of scientific and technological insurance, first in the second batch.

6. Seeking partner, Brazil came to Chengdu for investment
On September 3rd, the Chengdu introduction meeting of the “Brazil and China Cooperation” was held in Chengdu, one stop of its series meetings being held in 52 Chinese cities to introduce Brazilian economy. It is reported that Chengdu’s economic and trade cooperation with Brazil has developed rapidly. From this January to June, the city’s export volume was about 6.5 billion US dollars, up 62.8% year-on-year, of which trades with Brazil though took a moderate proportion, growing very fast, with a rate higher than 70%.

7. First “Chengdu Cultural Map” made public appearance
On September 3rd, the “Chengdu Cultural Map” drawn up by the Public Art Library of Chengdu was presented to locals for the first time. On the special map contain the exact locations of 88 cultural activity centers in the six urban districts of Chengdu, which is the first of its kind in China.

8. EU-China agricultural biodiversity project implemented officially in Xindu district
The EU-China Agricultural Biodiversity Project was recently implemented formally in Xindu district, learnt the journalist on September 4th. It is reported that the Xindu project, under the framework of the EU-China Agricultural Biodiversity Project, is an international program financed by the United Nations Development Programme and implemented jointly by the United Nations Food and Agriculture Organization and the Agricultural Ministry of China.

9. To be invested with 2.8 billion yuan, Terra•Chengdu Science and Technology Square settled in Qingbaijiang

Well-known real estate developer and scientific and technological park operator in China, Shenzhen Terra (Holdings) Co., Ltd signed a framework agreement on September 4th with Qingbaijiang district, to invest 2.8 billion yuan to construct the “Terra•Chengdu Science and Technology Square” with priority on high technology and incubation activities. It will surround such leading industries of the district as metallurgy, construction materials and logistics and provide high quality services for resident companies in the industrial park as well as major companies in Qingbaijing.

10.Ninth Chengdu International Furniture Exposition held
The ninth Chengdu International Furniture Exposition sponsored by Chengdu Municipal People’s Government and Sichuan Provincial Bureau of Commerce was held in the city from September 27th to 30th. Having exhibition area of 60,000 square meters and 3002 booths, the expo has attracted nearly 200 exhibitor companies this year. Scale slightly reduced compared with last year due to the impact of the earthquake, it nevertheless welcomed professional buyers of over 50,000, with on-site transactions over 500 million yuan.

It is learned that Chengdu is one of the three major furniture production bases in China, having so far over 2,000 furniture manufacturers, whose annual output value reaches more than 20 billion yuan, with annual production and sale volume ranking second in China and annual sales first in Midwest China.

11.BP investing in a renewable energy base in Pixian
According to the Investment Inviting Bureau of Pixian County, China Investment Corporation of British Petroleum (BP), a Fortune Global 500 company, recently inked a contract with the county to build a production base of renewable energy with 2.9 million US dollars at the Chengdu Modern Industrial Port, producing fuel particles by utilizing crop straw of the entire county.

12. IKEA very content when talking about its two years in Chengdu
Gillian Drakeford, vice president of IKEA China coming specially to Chengdu on September 9th for the release of the 2009 fiscal year strategy of IKEA, said while receiving an interview from a reporter that the visitor volume to the IKEA Chengdu store has rapidly resumed to the pre-earthquake level, and the earthquake impact on business has generally passed away; she is very satisfactory with the development of IKEA in Chengdu since its settlement in the city nearly two years ago, and IKEA is filled with confidence in the city’s future development, she added.

13. Chengdu Commercial Bank entered world’s top 1000 banks ranking
On the 2007 compositor list of the top 1000 banks worldwide of the British magazine The Banker, Chengdu City Commercial Bank ranked the 908th with its first capital of 298 million US dollars and ranked the 666th with its total assets of 7.79 billion US dollars, learnt the journalist on September 10th. It is the first time for a Chengdu-based financial institution to have entered into the ranking of the world’s largest 1000 banks.

14. International Purchase Festival of China Woman-shoe Capital to be held in Chengdu in October
Sponsored by Sichuan Provincial People’s Government, China National Light Industry Council and China Leather Industry Association, the 2008 third International Purchasing Festival of China Woman-shoe Capital and Chengdu International Shoemaking and Leather-making Material and Equipment Exposition is to be held in Chengdu from October 14th to 16th, and hundreds of well-known European and American footwear purchasers and makers as well as purchasers from other countries like India and Brazil will participate in the event and show their exhibition.

It is introduced that the footwear export of Sichuan has experienced a constant rapid growth in recent years, with the export volume in 2007 reaching 265 million US dollars, 53 times greater than that of 2000; from January to July of this year, the shoe export of the province attained 200 million US dollars, of which 95% owed to the export of Chengdu, where assemble over 2,000 shoemaking companies, making 200 million pairs of women’ shoes per year, ranking the third in China.

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