Chengdu Investment News: January 16, 2009

Friday, January 16, 2009 7:04
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1. Signing ceremony of Chengdu Sino-Dutch Huicheng Biopharmaceutical Co. Ltd held in Chengdu
The signing ceremony of the joint venture Chengdu Sino-Dutch Huicheng Biopharmaceutical Co. Ltd co-invested by Chengdu Zhonghui Pharmaceutical Co., Ltd and Dutch SU BioMedicine was held in Chengdu on November 15th, 2008.

The joint venture aiming to push the progress of the internationalization of Chinese traditional medicine, will build high-standard modern production lines of Chinese patent medicine in accordance with the certification systems of EU GMP/ISO9000/SA8000, introduce internationally advanced technologies and concepts and establish an bran-new production management mode within the Huicheng biopharmaceutical company, to meet the European GMP Standard in the aspects of Chinese traditional medicine R&D, production process, quality standard and talent training, etc., which has an important demonstration effect for accelerating the Chinese Traditional Medicine into the world market.

2. West China’s first wireless city project kicked off in Chengdu
On December 30th, 2008, West China’s first wireless city project – Chengdu High-tech WiFi experimental network was put into service in the west part of Chengdu High-tech Zone, which marked the formal kick-off of Chengdu’s construction of “Wireless City”.
It is revealed that according to the planning of the “Wireless City”, Chengdu in the future will become West China’s first wireless city using the network combining the advantages of both the TD technology equipped with the national proprietary intellectual property right and the internationally leading WIFI+EGPRS technology.

3. Of investment of 800 million yuan, Gaowei Sports Park to be constructed soon
The “Sichuan Gaowei Sports Park” project invested with 800 million yuan will soon be put into construction, learnt the journalist from Jinjiang district on December 30th, 2008.

4. Investing 2.9 million US dollars, British company to set up renewable energy base
British company BP, ranking fourth in the list of the top 500 companies in the world, is to invest 2.9 million US dollars to build a renewable energy base in the county of Pixian, utilizing crop straws to produce fuel particles.

5. Wenjiang district to use 3 to 5 years to build national sports industrial base
Wenjiang district in collaboration with IMG of the United States has completed the “Overall Planning and Design of Sports and Leisure Experience Industry of Wenjiang”, and is making every effort to build the National Sports Industrial Base with as the main body the Jinma International Sports Town. It is predicted that the district use 3 to 5 years to build an industrial aggregation zone integrated with a sports and leisure experience center, a sports business service center and a sports goods fabrication and R&D center, to construct Wenjiang into a national demonstration base of sports industry and an international sports town with a relatively important influence.

6.Southwest’s first bonded logistics center approved to be set up in Chengdu
According to the Chengdu Customs, the Customs Head Office, the Ministry of Finances, the State Administration of Taxation and the State Administration of Exchange Control recently co-issued a statement, approving the setting-up in Chengdu of the first bonded logistics center (B) of Southwest China.

The bonded logistics center (B) after the formal operation will become a cargo distribution transferring station and a logistics hub connecting domestic and foreign markets for Sichuan even West China. At that time, related companies, in addition to enjoying the tax refund and bonded services, can also make customs declarations directly in Chengdu. The center so far has entered into the perfection stage of technical facilities.

7. To accelerate marine, terrestrial and aerial transports with investment of 19 billion yuan this year
Strengthening the linkage with the ports of Luzhou and of Leshan in the freight traffic; projecting the Sichuan-Tibet railway; developing the “eight highways and one bridge” for the terrestrial transport; constructing the second runway and to select the location for the second airport; Chengdu’s transport this year will encounter a marine, terrestrial and aerial three-dimensional development. The Transport Work Conference of Chengdu held on January 4th revealed that the fixed asset investment on the Chengdu comprehensive transport will reach 19 billion yuan this year, and Chengdu’s status as a traffic hub will be fully consolidated and enhanced.

8. Last year Chengdu introduced 6 Fortune Global 500 companies, 130 in total now
Facing the negative impact of the“5•12”Great Earthquake of Wenchuan and of the international financial crisis, Chengdu’s investment promotion work has achieved sound results: The city in 2008 has introduced 242 super important projects with each investment above 500 million yuan or 50 million US dollars. On January 8th, the journalist learnt from Chengdu Investment Promotion Commission that, last year, the city’s actual-utilized domestic investment from outside Chengdu amounted to 92.9 billion yuan, up 47.7% year-on-year, and its actual-utilized foreign investment reached 2.25 billion US dollars, up 97.3% year-on-year; 6 Fortune Global 500 companies including British BP have been introduced, with at present the total number of Fortune Global 500 companies settled in Chengdu reaching 130.

9. 20 billion-yuan international venture capital into Sichuan, full boosting high-tech industry
On January 8th, the “2009 China (West) Promotion Meeting of High-tech Industries and Venture Capital Tie-in” jointly held in Chengdu by the China National Democratic Construction Association, the Ministry of Science and Technology, the Sichuan provincial government and Shenzhen Stock Exchange, and over 100 private fund and venture capital organizations from around the world carrying with them capital over 20 billion yuan gathered in the west of China, to promote the development of high-tech industries in Sichuan and support the post-disaster reconstruction of the province.

10. UK Trade & Investment: Chengdu’s investment potential greater than Beijing and Shanghai
The UK Trade & Investment recently published the report on Business Opportunities of British Companies in Regional Cities of China, in which 35 cities each with a population over 1 million and fast developing of infrastructure investment have been chosen, including Chengdu, the only select from the southwestern region.

The report indicates that the 35 regional Chinese cities may provide business opportunities for British companies in the 7 key industries of finance and specialty service, environment and climate change, energy, infrastructure, life science, information and communications technology and advanced engineering. Chengdu’s overall high quality of human resources, local government’ strong support to science and education and the perfecting of relevant technologies and policies are very attractive factors to British companies.

11. Spring Festival Shopping Festival’s first day turnover attained 150 million yuan
The Thirteenth Sichuan Spring Festival Shopping Festival was inaugurated on January 8th in the Chengdu Shawan Exposition Center. Over 800 companies from abroad and from more than 30 provinces and cities of the country came to exhibit and launched their promotion activities. The first-day turnover has reached 150 million yuan, and during the same day the festival welcomed over 100,000 visitors. The activity will last till January 23rd.

12. 2.68 billion yuan to be invested this year for electric power and natural gas projects
The 2009 Annual Promotion Scheme of Electrical Power and Natural Gas Infrastructure Projects of Chengdu printed and distributed by the Chengdu Economic Commission requires that municipal-level units and relevant departments promote the 86 electric power and natural gas infrastructure projects in 2009 to fulfill the annual investment plan, of which, electric power projects account for 57, with planned investment of 1234.46 million yuan in 2009, and natural gas production and gas pipeline infrastructure projects 29, with planned investment of 1447.93 million yuan, learnt the journalist on January 11th.

13. “Southern automobiles moving eastward”, Hongpailou automobile parts market to entirely move in Longquan
On January 11th, the district governments of Wuhou and of Longquanyi signed a strategic cooperation agreement for “southern automobiles moving eastward”: Hongpailou automobile parts market of Wuhou district will move entirely to the “China•Chengdu International Automobile Exposition New Town” of Longquanyi district, and 6 projects including Hong Kong Ruilong, Sichuan Geely Automobile Supermarket were signed immediately afterward and settled in the “China•Chengdu International Automobile Exposition New Town”, with total agreed investment of 7.05 billion yuan.

14.FFH investing in Chengdu, specialized in small loans
More and more small and medium-sized enterprises in Chengdu will enjoy the petty loan services provided by international financial companies. Fullerton Financial Holdings, wholly owned subsidiary of Singaporean Temasek Group, recently set up in Chengdu the FFH Xinshi Business Service Corporation and has started the trial operation of the latter, providing petty loan services to numerous small and medium-sized companies, which has filled the gap in the service sector left by the big banks in Chengdu.

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